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Stocks Mixed as Risk Rally Runs Out of Steam... For Now

EQUITIES

The fearsome rally in equities over the past fortnight ran out of steam Tuesday, with the S&P500 snapping a decent winning streak. Nonetheless, futures markets touched new all time highs in Asia-Pac session and consolidated from there - but there's very little sign of a protracted reversal in prices.

The energy sector underperformed, with some of the oil supermajors seeing particularly sharp declines (ExxonMobil fell over 3.5%) as the oil rally stalled. Materials and consumer discretionary sectors also declined.

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