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Futures Improve Further, Point to Positive Open

  • Following the positive close on Wall Street Tuesday, equities have improved further, with futures pointing to strength at the opening bell. As was the case earlier in the week, growth and value names appear to be driving the recovery in sentiment, evident in the NASDAQ future's outperformance over core Dow Jones and S&P500 contracts this morning.
  • Asia-Pac equities traded firmer into the Tuesday close, with the Hang Seng adding over 2% while the Nikkei 225 hit the best levels since mid-January. This fed through into European trade, with continental markets all uniformly higher.
  • Europe's energy sector trades slightly higher, but underperforms all others as WTI and Brent crude futures retrace recent gains as markets continue to price a thawing of relations between Russia and the West. A possible near-term peak in energy prices has dragged Shell off the multi-year high printed earlier in the week, with the stock off close to 5% from yesterday's highs.
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