Stock futures inch higher on Monday evening
). Communication services and information technology, which have enjoyed a strong 2023, both slipped.
"Basically, you have an oversold bounce in these areas that have been beaten up and you're having a pause from some of these areas that are leadership," said Keith Lerner, Truist's co-chief investment officer. "I don't think this is a trend reversal, I don't think this is new leadership." Markets may also be taking news of First Citizens' plan to buy a large chunk of SVB as a positive, he said.
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