Rotation Out Of Tech Continues

Global equities continue to gain steam in the wake of Monday's Pfizer vaccine news, with one notable sectoral exception: tech (NASDAQ futures lower for instance), as investors rotate out of tech stocks.

• Asian stocks closed mixed, with Japan's NIKKEI up 65.75 pts or +0.26% at 24905.59 and the TOPIX up 18.9 pts or +1.12% at 1700.8. China's SHANGHAI closed down 13.586 pts or -0.4% at 3360.148 and the HANG SENG ended 285.31 pts higher or +1.1% at 26301.48
• European equities are broadly higher, with the German Dax down 21.15 pts or -0.16% at 13097.09, FTSE 100 up 80.13 pts or +1.3% at 6187.49, CAC 40 up 75.5 pts or +1.41% at 5327.74 and Euro Stoxx 50 up 19.24 pts or +0.56% at 3413.43.
• U.S. futures are mixed, with the Dow Jones mini up 182 pts or +0.63% at 29238, S&P 500 mini up 3.25 pts or +0.09% at 3547.25, NASDAQ mini down 96.25 pts or -0.81% at 11724.5.