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US Indices Edge Off Highs, With Profit-Taking the Driver

EQUITIES

Markets reversed (albeit to a much smaller degree) the moves seen Monday after Moderna's vaccine update, with tech slightly outperforming reflation trades, leading the NASDAQ to modestly rise, while the Dow Jones and S&P fell.

As a result, energy names populated the biggest fallers on the S&P 500, alongside pharmacy names including Walgreens & CVS Health after Amazon announced plans to move into the drug prescription markets with their Prime product.

The E-mini S&P saw slightly below average volumes, retaining the Monday high at 3637.00 and alltime high at 3668.00 as the primary targets.

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