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Cautious Progress Ahead of the Fed

EQUITIES
  • Stock markets stateside inched higher Monday, with the Dow Jones touching a new all time high in the process. The tech sector bounced slightly, leading the NASDAQ 100 to outperform, although last week's highs were out of reach.
  • In the US, utilities and real estate led gains, with energy and financials - last week's outperformers - at the bottom of the pile.
  • Travel names performed very well, with United Airlines and American Airlines among the best performers in the S&P 500.
  • Across Europe, early strength faded into the close, with most major indices closing with losses of 0.2-0.3%.

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