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Markets Edge Off All Time Highs, Putting Weight Through Futures

EQUITIES
  • Equity markets looked to close lower Thursday, despite a resolutely positive start to the session. Initially, US futures traded perkily, reaching new all time highs as firm trade in the likes of Apple and Facebook after their earnings reports buoyed indices.
  • This effect faded upon the opening bell, however, with sizeable sell orders (likely profit-taking) knocking back the S&P 500. Support from the likes of Apple and Facebook reversed, with both stocks coming off their best levels in cash trade and, in the case of Apple, entering negative territory.
  • At one point, the NYSE Tick Index showed sell orders in the largest numbers of stock in around a month.
  • Across Europe, indices generally closed lower, but losses were more marginal. The UK's FTSE-100 slipped 0.03% while Germany's DAX underperformed most others to drop 0.9%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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