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Tech Sector Leading NASDAQ Ahead of S&P, Dow Jones

EQUITIES

US stock markets open uniformly higher, with the NASDAQ leading the bounce, opening higher by over 1% while the S&P, Dow Jones gain 0.6-0.8%.

Support for the e-mini S&P remains at the 50-dma on the continuation contract at 3326.01, which provided support on several occasions last week. First resistance for the index sits at the Wednesday/Thursday highs of 3424.00/.25 as well as the 50% retracement of the pullback from alltime highs at 3441.25.

Communication services and technology are leading the gains, with financials and industrials at the other end of the table. Notable movers include Apple, Delta airlines, and Netflix, all up between 1.5-2.5%. Largest decliners include Lennar Corp (-4%), FedEx (-2%) and Carnival (-6%).

Central bank speak and data releases are few and far between for the rest of the session, keeping focus on tomorrow's FOMC decision.

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