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US Tops Europe Into Friday Close

EQUITIES
  • US stocks traded well Friday, rallying following an inline inflation release that soothed concerns of a sky high CPI release given Biden's cautious comments earlier in the week. The White House provided further support following the release, suggesting price pressures will ease further in the coming months.
  • Re-opening names saw further support Friday as data from both the US and UK health regulators suggested that the new omicron variant caused only mild illness among the 'fully vaccinated' - signifying that an efficiently rolled out booster program will go a long way to avoiding the rising hospitalizations and fatalities.
  • The consumer staples sector led markets higher Friday alongside tech firms, with CostCo among the sharpest gainers following a solid beat on expectations across their fiscal Q1 results.

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