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Late Stock Roundup, Strong Post-FOMC Rally

US STOCKS
Stocks staged a strong rally after Fed Chairman Powell poured cold water on chances of 75bp hike in the near term to address surging inflation, equity indexes trading at/near late session highs.
  • SPX emini futures ESM2 currently +119.5 points (2.87%) at 4289.75 -- with attention on key resistance of 4303.50/4355.50 High Apr 26/28 / Low Apr 18.
  • Large earnings on tap after the bell: Allstate (ALL), GoDaddy (GDDY), MetLife (MET), Ebay, ETSY.
  • SPX leading/lagging sectors: Energy sector remains strong (+3.86) as O&G shares outperform energy equipment and servicers. Communication Services (+3.59%) and Information Technology (+3.27%) outperforming late.
  • Laggers: Real Estate sector continues to underperform (+0.91%), followed by Consumer Staples (+2.14%) and Utilities (+2.17%).
  • Meanwhile, Dow Industrials currently trades +886.99 points (2.68%) at 34022.19, Nasdaq +374.9 points (3%) at 12939.27.

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