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US stocks flatter to deceive on the opening- check out the Nasdaq 100

The US stock markets have just reopened for the final live trading session of the week and the month and it has been a higher opening, but not perhaps as high as earlier indicated by the rise in the US futures. For now the dollar seems to have found a floor too. It is arguable that the whole set of reactions to that PCE data was overdone and there is a good case to argue that, but nevertheless the driver for this is US yields and they are still not bouncing. The price action in stocks is fluid though and it remains to be seen where this US equity session will eventually lead to. There is no doubt that US stocks have suffered quite a few days of downside and perhaps it is right for that to deliver some squaring-up today? We shall see as the session evolves. Meantime, the Nasdaq 100 appears to be the one index that is lagging the most right now, where the Dow and the S+P 500 are bouncing again as this update is concluded. The Nasdaq 100 is currently trading at 18,545
 

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