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Stocks Flatline as CPI, ECB Awaited

EQUITIES
  • Equity markets were broadly flat, with the S&P 500 trading inside recent ranges as traders sat on the sidelines ahead of the key pre-FOMC CPI release Thursday, as well as the ECB rate decision. The e-mini S&P stalled ahead of both the weekly high at 4236.75 as well as the alltime highs printed May 10th at 4238.25.
  • Gains in the US health care and utilities sectors were countered by weakness in industrials and financials, which slipped as the US sovereign curve flattened further.
  • Inside trade for the S&P 500 kept the VIX under pressure, which traded within range of yesterday's low of 15.15 points - a new post-pandemic low.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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