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Early Strength Fades into Friday Close

EQUITIES
  • US markets traded mixed Friday, with the Dow Jones edging off early gains to finish lower while the S&P 500 held recent gains. All three major US indices traded well following the cash open but sporadic and reportedly programmatic sales worked against headline indices as strength faded into the close.
  • The e-mini S&P hit new alltime highs ahead of the cash open at 3817.75, securing a near 4% rally from the Monday lows.
  • Communication services and financials were the laggards, countering upside in consumer discretionary and real estate firms.

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