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EQUITIES: Stocks Drift Off Highs Through Cash Open, But Weakness Seen Corrective

EQUITIES
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  • US equities softer off the opening bell and extending declines in recent trade. The e-mini S&P is nearing in on the overnight low (modest support seen layered between here and yesterday's low: 6055.50-6060.75), although the e-mini Dow has already slipped into negative territory.
  • Tech names are outperforming in the US, led higher by the surge in Broadcom shares - higher by over 20% today and the latest to be worth over $1trl - after forecasting a particularly bullish 2025. Their rally is pulling up peers, with Marvell Technology, NVIDIA, Latice Semi also seen higher on the day.
  • Materials and energy names make up the bottom of the table as softer industrial metals prices today drag on explorers. Despite the downside today, however, the pullback is deemed corrective inside the broader uptrend, with 6145.26 the next key level on any bounce.
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  • US equities softer off the opening bell and extending declines in recent trade. The e-mini S&P is nearing in on the overnight low (modest support seen layered between here and yesterday's low: 6055.50-6060.75), although the e-mini Dow has already slipped into negative territory.
  • Tech names are outperforming in the US, led higher by the surge in Broadcom shares - higher by over 20% today and the latest to be worth over $1trl - after forecasting a particularly bullish 2025. Their rally is pulling up peers, with Marvell Technology, NVIDIA, Latice Semi also seen higher on the day.
  • Materials and energy names make up the bottom of the table as softer industrial metals prices today drag on explorers. Despite the downside today, however, the pullback is deemed corrective inside the broader uptrend, with 6145.26 the next key level on any bounce.