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E-mini S&P Bounces Sharply, Taking Out Overnight Highs

EQUITIES
  • No material headline or news catalyst behind the recovery in equities, but best volumes of the session went through on the uptick, with over 45k e-mini contracts trading inside 5 minutes.
  • Below the surface, energy names appear to have stabilised on the pause in the oil weakness and are now among the best performers in the S&P500 alongside industrials and utilities. Communication services are now the only sector in the red for the index.
  • Index remains well off the week's best levels of 4419.75, which is the first target before alltime highs at 4422.50.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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