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Equity Futures Surge to New Highs as JOLTS Short of Forecast

CROSS ASSET
  • Early E-mini S&P bid extends to 4465.25 following the JOLTS release, extending the strong start through the cash open. Sharply moderating US yields also assisting the bid, which allows the likes of EUR/USD and GBP/USD to find a daily bottom and surge toward the better levels of the session.
  • Perhaps interestingly - today's open saw exceedingly low volumes across the U3 E-mini S&P contract. Even when incorporating activity in Z3 futures, total contracts traded in the opening 15 minutes are among the lowest in August.
  • Tech names an early outperformer thanks to the contribution from Alphabet - Google confirmed pre-market that over half of all generative AI startups are using it's cloud services - boosting shares by ~1.5%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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