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Equities Strike New ATH for Sixth Consecutive Session

EQUITIES
  • US equity indices traded uniformly positively Friday, with the e-mini S&P cracking near-term resistance to touch new record highs following the better-than-expected payrolls headline. The index has now hit alltime highs for a sixth consecutive session.
  • The US tech sector bounced back following Thursday's underperformance, with the sector as a whole rising over 1%. Communication services and consumer discretionary firms were also solid risers. Energy was a laggard, with the sector unwinding some of the week's solid gains into the Friday close.
  • IBM were the worst performer in the S&P 500, slipping well over 4% on the surprise news that IBM President Whitehurst is to step down from his position.
  • European stocks were more mixed, with German stocks helping drag the EuroStoxx50 into minor positive territory, while losses were sustained in Frence, Spanish and Italian markets.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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