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On Friday the S+P 500 fell back to a low at 5,853 and that was some way below the record high it set at 6,017 on November 11. The index managed to rebound yesterday and close 23 points higher, at 5,893.62. That gain was in contrast to a 55 point loss in the Dow Jones and of course it was the tech stock crossover which delivered the contrast, because the Nasdaq 100 gained the most of all the three major indexes into the close last night. The S+P 500 futures are elevated so far today and a little later today (at 12pm GMT) we do get a pretty hefty S+P stock reporting their Q3 earnings. That is Walmart which is ranked 21 in the index by weight. The markets expect Q3 revenue of $167.72 billion and an EPS of $0.53. This could have an impact on the S+P futures ahead of the opening this afternoon. Right now the outlook is reasonably positive, with the current opening priced at around 5,900. There is also a price gap still open from last week that would be filled, if the index were to trade back to around 5,940.
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