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Tech Stocks Outperform, NASDAQ Leads Bounce

EQUITIES
  • Equity futures pushing to new session highs in recent trade, with the e-mini S&P inching through Friday's highs to narrow the gap with the cycle highs printed May 10th at 4238.25. Alltime highs are the bull trigger, and a break above here opens 4239.26, the 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing.
  • Tech and Communication Services names leading the charge, with the likes of NVIDIA, Salesforce, Facebook, Alphabet and others all sharply higher in early trade.
  • No surprise to see the NASDAQ outperforming then, with futures higher by over 1.5% while the DJIA future posts more modest gains of 0.7%.

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