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First Call February 2, 2021
- S&P futures up 0.8% after US equities bounced on Monday with the index posting its biggest one-day gain since late November. Big tech and small caps among the standouts.
- Selling the SLV long
- Asian equities higher overnight with Taiwan, Australia, Hong Kong, and South Korea all up over 1%.
- European equities also seeing big gains.
- Treasuries weaker with the curve bear steepening. Dollar firmer vs yen and euro.
- Gold down 0.9%.
- Silver down 5.9% after a 9%+ surge in the prior session (margin requirements raised), its biggest since October 2008.
- WTI crude up 2.4% after gaining more than 2.5% on Monday.