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Stocks Rebound, Dip Buyers Remain a Force

EQUITIES
  • After Tuesday's sharp pullback, equity markets were far more settled Wednesday, with all three major US indices higher headed into the close. After initial outperformance, the tech-led NASDAQ faded slightly, but remains on better footing relative to the Tuesday close.
  • A quieter session for stocks weighed on the VIX, which retreated the entirety of the Tuesday move higher to head toward the week's lowest levels.
  • The energy sector traded well in the US, with oil and exploration firms taking heed from the much firmer WTI crude futures curve. Materials and financials also saw strength while utilities and real estate suffered.
  • Across Europe, markets traded particularly well, with Germany's DAX closing with gains of over 2%, while UK, Spanish and Italian indices were higher by well over 1.5% apiece.

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