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Paring Gains

US STOCKS
  • Stocks have scaled back support in the last few minutes, several possible triggers include marginally hawkish ECB sources piece and the EU/Ukraine news have helped cap the recovery for equities. Our political risk analyst notes on the latter that the accession process will likely be drawn out, and faces an unclear track considering complications from the war ongoing with Russia.
  • Profit taking ahead of Friday's data likely adding to the move while Energy, Real Estate, Materials/Industrials and Financial sectors still outperforming in early afternoon trade. At the moment, DJIA is up 90.82 points (0.24%) at 37181.26, S&P E-Mini futures up 5.25 points (0.11%) at 4766, Nasdaq down 25.6 points (-0.2%) at 14708.75

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