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First Call July 14, 2021
- S&P futures up 0.15% and Nasdaq futures up +0.45% in Wednesday morning trading after US equities were lower on Tuesday, ending near their worst levels for the session with small caps under additional pressure and value once again lagging growth.
- PPI also came in hot.
- Powell speech in front of Congress headlines on the note
- Asian equities mostly lower overnight with China a laggard, down over 1%.
- European markets are weaker.
- Treasuries little changed to firmer after yields saw some upward pressure in the prior session following a soft 30-year bond auction that tailed the most in almost a year.
- Dollar underperforming on the major crosses.
- Gold up 0.3%.
- WTI crude off 1.2%, near worst levels after OPEC+ compromise reached.