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US Equities gain, extend sharp recovery seen in October

FXStreet (Mumbai) - The US Equity markets are trading on a slightly weaker note today after positing a sharp recovery in the second half of October which pushed S&P to a record closing high on Friday.

The DJIA is trading up 1.13% at 17,390, while the S&P December futures trade 0.20% up at 2015.45. Both the indices had closed at a record high last week after the Bank of Japan’s surprise expansion of the monetary stimulus triggered a rally in the risk assets across the globe.

Moreover, markets have inched higher ahead of the ISM data which is likely to show that the manufacturing growth in October slipped to 56.2 from 56.6 a month earlier. Markets are also awaiting other key releases this week, which includes service sector PMI and monthly jobs data.

Meanwhile, the corporate earnings shall continue to dominate market sentiment. American International Group Inc., Time Warner Inc., and Walt Disney Co. are among more than eighty S&P 500 companies posting financial results this week.

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