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Late Equity Roundup: Bouncing

US STOCKS
Still in the red for now, stocks are quietly bouncing back near midmorning highs in SPX eminis from 4245.25 to 4242.0 (-24.5) at the moment -- traders citing renewed selling in oil as Brent extends session to 111.31.
  • Dow (-0.53% at 33107.42) and Nasdaq (-1% at 13123.67) futures also paring losses. SPX emini futures remain comfortably between first technical support of 4094.25 Low Feb 24 and a bear trigger, and first resistance: 4335.19 20-day EMA.
  • SPX leading/lagging sectors: despite the reversal in oil, Energy sector continues to lead gainers +2.65%, Consumer Discretionary sector +1.14% from steady earier; Information Technology sector still lagging but off lows -1.81% with semiconductor stocks broadly lower; Financials sector recedes -1.1%, Bank of NY Mellon (BK) -4.56% after CEO steps down.
  • Dow laggers: Goldman Sachs takes lead -5.54 at 328.05; Apple -4.64 at 158.37 underperforming Microsoft -2.66 at 285.84.

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