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Steady Trade, But Inside Tuesday Range

EQUITIES
  • Global equity markets had a more steady session Wednesday, with the e-mini S&P trading wholly inside the Tuesday range throughout. This keeps directional parameters unchanged for now, with the first upside level resting at 4212.75.
  • In cash markets, the NASDAQ outperformed core S&P and Dow Jones indices as sentiment steadied.
  • The consumer discretionary sector traded particularly well thanks to a 2.5% rally in Nike and Under Armour shares. Re-opening linked names continue to outperform, with Penn National Gaming, Las Vegas Sands and Wynn Resorts among the best performers in the S&P 500. Gains in these sectors were tempered somewhat by healthcare and materials names, which traded somewhat softer.

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