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US Stock Futures Paring Gains at the Open

EQUITIES
  • US cash markets opened lower, inline with futures, but are seeing some buying interest at the opening bell, with the NASDAQ future briefly showing in positive territory. Nonetheless, still a decent enough gap with the all time highs posted last Friday.
  • The pullback in the e-mini S&P yesterday/today has relieved the previously overbought condition in the index (per the RSI), with focus resting on earnings.
  • Economic re-opening themed stocks are among today's largest decliners (a pattern that began yesterday) with airlines, cruise names and hoteliers among the S&P500's poorest performers.

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