S&P 500 Index Futures Rallying Into End Of Q1

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
S&P 500 index futures were trading sharply higher by 28 points at 2080.50 in Monday's session. After trading higher for most of the pre-market session, the rally continued off the opening bell. So far, the index has recouped over half of its losses incurred during its tumble from just shy of its all-time high (2110.25), when it peaked last Monday at $2107.00. The ensuing decline found support just ahead of the lower end of the recent trading range (2030.75), only reaching 2033.25 on Thursday before staging it rebound. So far, all of the top components of the index are in the green. The top component
Apple Inc.AAPL
is higher by $2.43 $125.68. A big boost is being provided by the big integrated oil companies. At this time,
Exxon-MobilXOM
is higher by $2.15 at $85.73 and
Chevron Corporation
CVX
is higher by $2.70 at $106.98. Following a very bullish article in Barron's over the weekend,
J.P. MorganJPM
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is trading higher by $1.75 at $61.30.
Wells FargoWFC
is benefiting from the rally in the financial sector as it's trading higher by $0.80 at $54.92. The SPDR S&P 500 ETF Trust
SPY
was higher by $2.72 (1.3 percent) at $208.47
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Posted In: FuturesTechnicalsIntraday UpdateMarketsMoversTrading IdeasPre-market outlook
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