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Markets Stronger Thanks to Solid Energy, Financials Sectors

EQUITIES
  • Equity markets recovering from bottom, with the e-mini S&P clawing back some of the losses suffered since the European morning. Earlier today, the contract had closed the gap with the Sept 17 close, but markets will need to close above here (4464.25) to open further gains toward the record highs printed in early September.
  • The S&P cash is now back in positive territory, with energy and financials leading the bounce (the former higher on fresh 2021 highs for oil, the latter benefiting from a further steepening in the US Treasury curve). Tech is the notable laggard, leading to underperformance in the NASDAQ, which sits below both the S&P 500 and the Dow Jones at typing.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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