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EQUITIES
  • Markets took the other side of Monday's trade throughout the Tuesday session, as tech shares bounced sharply to lead a firmer day in US cash equity markets. The NASDAQ-100 rose as much as 4% ahead of the close, reversing the mini-downtrend posted since mid-February. The index needs to break and close above the 50-dma at 13,146.85 to confirm a resumption of the multi-month uptrend seen since the 2020 low print.
  • In the S&P 500, consumer discretionary names outperformed tech, with both sectors rallying sharply. Energy and financials were the underperformers and were the sole sectors to head into the close lower.
  • The VIX traded lower as equities climbed toward new cycle highs, with the index showing below 23 points for the first time since early last week.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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