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E-mini Sees Average Daily Volume Hit With Near Four Hours to Go

EQUITIES
  • One way traffic in equity markets continuing here on heavy volume. E-mini S&P volumes sit around 90% ahead of average for this time of day, with the contract now hitting it's average daily volume of ~1.9mln contracts traded with almost four hours left of trading to go.
  • Megacap names Netflix and Tesla remain among the index's worst performers, but worth noting the 12% pullback for Moderna - the worst session for the stock for months as markets look toward 'normalization' of both interest rates / Fed balance sheet as well as the virus outlook.
  • Other jabmakers including Pfizer and BioNTech are also sharply lower.

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