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Europe Drifts But US Touches New ATH

EQUITIES
  • Continental stock markets are drifting early Monday, with the Spanish IBEX-35 underperforming having shed 1.3% on local bank stock weakness. Spain is the outlier, however, with most major indices off 0.4% or so.
  • Europe's energy names are dragging headline indices, with the consumer discretionary sector also weak. Tech and healthcare names are more solid, but rallies have been insufficient to buoy markets more broadly.
  • It's a slightly more mixed picture in US futures space, with the e-mini S&P printing a new alltime high in early Asia-Pac trade at 4278.50. This keeps focus on the first upside level at 4230.
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