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US Futures Moderate as S&P500 Approaches Record High

  • US futures trade in minor negative territory, with the e-mini S&P off around 10 points. Nonetheless, the near-term outlook remains bullish, with both the S&P and the EuroStoxx50 futures showing above the 50-day EMAs to tilt the outlook more positive.
  • A stronger close for the S&P500 today would mark the seventh consecutive session of gains, the longest winning streak for the index since early August.
  • European trade is similarly negative, with most markets off around 0.2%. Materials and energy names are providing a headwind to headline markets, while real estate, consumer staples and tech names trade more firmly.
  • Earnings remain a focus, with the likes of Intel and AT&T making up the headlines Thursday. Full earnings schedule with expectations and timings found here:

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