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Stocks Stagnate as Rally Hits Pause

EQUITIES
  • Wall Street indices were mixed Wednesday, with the S&P 500 drifting into negative territory, led lower by tech stocks as the NASDAQ dropped over 1%. The Dow Jones was the standout performer, inching to a fresh record thanks to rallies in Honeywell, IBM and Caterpillar stock.
  • The e-mini S&P followed Asia-Pac stocks lower during overnight hours, following underperformance in Hong Kong's Hang Seng Index, that led to a negative opening bell. Real estate and tech names led the weakness, countering modest strength across materials and energy stocks.
  • European trade was more mixed, with Germany's DAX, Italy's FTSE-MIB higher while Spain's IBEX-35 and the UK's FTSE-100 lagged.

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