The US is currently riding the struggle bus. While the RoW enjoys a decent start to 2023 (EU/China in particular), the combo of strong labor data and persistently aggressive Fed-speak is keeping a lid on the US stocks. Only 1 sector finished in the green today –Energy, and it was simply stemming the bleeding from the past few days. Consumer Discretionary succumbed to the weakness in the last few hours of trading and even a boost from TMUS (+3.2%), thanks to a beat in postpaid phone subscriber growth (we remain unconvinced), was unable to hold Telcos higher.
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