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Equity benchmarks held gains at midday Wednesday as IT stocks reversed Tuesday's outperformance while metals, FMCG and insurance counters supported. FOMC decision due later.

BlackRock stays overweight U.S. equities including SPY, arguing profit revisions offset higher rates and oil. SPY trades at a 12% premium to its estimated intrinsic value with a Mixed Alpha Score.

Intel's confidential IPO filing for Altera comes as GuruFocus GF Value labels the stock 209% overvalued, despite insider buying and a GF Score of 66.