US equities volatile but generally.........>

EQUITIES: US equities volatile but generally positive shortly following the

open. Equity futures slightly more volatile at the cash open given the futures

and options expiry alongside the bell. NASDAQ is generally modestly

outperforming the S&P and Dow Jones, but only modestly.

- In the S&P, gainers outnumber fallers by around 3 to 2, with hotel/casino

names and airlines among the top performers: MGM Resorts, Wynn Resorts, United

Airlines have all traded higher by 10-20% so far today.

- Consumer discretionary is the best performer on a sector-by-sector basis, with

consumer staples and materials the laggards.

- Given the uptick in equities, VIX remains (relatively) subdued and holds close

to yesterday's lows.

- Key resistance for the S&P cash sits at 2562.98, Mar 16 high and 2796.33,

20-day EMA.