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Wall Street Either Side of Unchanged in Early Trade

EQUITIES

Slow but steady start to the cash session for US equities, with the highest volumes at the bell since Jan25 (session before Fed decision last week) in futures, with some programmatic buying interest evident in the NYSE TICK Index - although not enough to tip the e-mini S&P north of the overnight 4514.50 high.

  • Early outperformance noted in industrials & materials sectors (driven by the strength in UPS post-earnings) while consumer discretionary and tech names lag - with semiconductors adding some weight.
  • Plenty of earnings still to come after-market, with Alphabet, General Motors, PayPal and Starbucks after the bell.

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