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US Futures a Touch Lower, Europe Mixed

EQUITIES

US equity futures are uniformly lower early Friday, but no materially, with the bull trend in the e-mini S&P still intact for now. The medium-term upside target for US futures remains 4,000, with resistance expected at the 3928.50 all time high posted Wednesday.

Europe is flat-to-lower, with the UK's FTSE-100 in very minor territory while Spanish, Italian stocks lead losses having slipped 0.9 and 0.5% into the red. Utilities are the poorest performers, with materials and consumer discretionary not far behind. Defensive healthcare and consumer staples names are the top of the pile so far.

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