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Futures in Holding Pattern Below Yesterday's Record Levels

EQUITIES
  • US futures are mixed, but hold close to yesterday's particularly strong close. The e-mini S&P topped resistance at 4,160 to hit new all time highs Thursday at 4,166.50. Uni of Michigan sentiment and housing starts/building permits data crosses later today.
  • German, UK and Spanish indices outperform, but gains are broad-based headed into the final session of the week.
  • Across Europe, industrials and real estate are fuelling gains, with financials not far behind. Tech, staples and healthcare are the only sectors in the red, reinforcing the risk-on theme as defensive stocks trade poorly.
  • Earnings season continues with Morgan Stanley, BNY Mellon and State Street due among others.

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