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Stocks Stage Solid Bounce

EQUITIES

After a sour finish to the Friday session last week, US equities bounced well Monday, with the S&P500 rising over 1.5%, as tech and consumer discretionary names helped fuel the recovery. Energy was the sole sector in the red, with ExxonMobil/Chevron merger chatter not enough to prop.

The e-mini S&P closed below the 50-dma Friday for the first time since late October last year, but bounced back above Monday to mount a decent challenge on the Friday high of 3777.25.

Earnings take focus going forward, with reports due this week from Amazon, Alphabet, PayPal and Ford among others.

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