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Today's market
September 12, 2023 at 1:30 p.m. EDT
Patricia Medina
Market Strategy Analyst
Yesterday US equity markets closed higher but as we pointed out it didn’t feel like there was much conviction behind that move. Tech stocks outperformed while energy shares closed lower, a retracement of what has been playing out throughout the start of this month. It remains somewhat quiet from a macro perspective ahead of the highly anticipated CPI report tomorrow and a plethora of central bank rate decisions over the next week. However, there has been quite a bit of corporate commentary driving some of the action. Major indices are mixed today with tech stocks giving back some of yesterday’s gains after some disappointment with Oracle guidance last night. That being said like yesterday there doesn’t seem to be much conviction. The S&P remains in the middle of its recent range and it seems that traders are content to go into tomorrow’s release with a neutral stance.
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