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Markets Lack Direction Ahead of the Fed

EQUITIES
  • Headline indices traded broadly flat Tuesday, with the S&P 500 trading 0.1% either side of the Monday close for the bulk of the day. This came despite the strength in the e-mini S&P ahead of the European open, which saw new record highs ushered in at 4192.50.
  • Healthcare and utilities firms lagged, countered by strength in both the industrials and energy sectors across the S&P 500.
  • Earnings remain a focus, with poor traded in both Tesla and 3M undermining recent upbeat reports. At the other end of the table, UPS and FedEx traded particularly well after the former firm comfortably beat expectations for Q1.
  • After-market reports Tuesday include Alphabet, Microsoft, Starbucks and Visa.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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