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Stocks Bounce After Month-End Pullback

  • European equity markets were sold into the Wednesday close, resulting in EuroStoxx futures testing the 50-dma at 4039.14, but have staged a solid bounce ahead of the NY crossover with European indices on the whole all higher.
  • US futures are similarly strong, with the e-mini S&P showing above the 4300 level in Asia-Pac trade to touch new alltime highs. Energy names across Europe are leading the way higher, with financials and materials similarly strong. All sectors are firmer this morning, but tech slightly lags, reflecting in the NASDAQ's underperformance ahead of the bell.
  • The US labour market remains top of mind ahead of Friday's payrolls release, prompting markets to keep an eye on weekly jobless claims and Challenger Job Cuts.

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