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Stock Futures Narrow In On Alltime Highs

EQUITIES
  • Equity futures going from strength to strength in recent trade as ESH1 narrows the gap with March 18th's 3988.75.
  • Different story in cash markets, where the S&P 500 hits a new record high with tech and consumer discretionary underpinning the rally. Energy and financials at the other end of the table. NASDAQ smartly outperforming, rising just shy of 2% while the DJIA sits only in minor positive territory.
  • Persistent equity strength still weighing on the VIX, which holds close to the late March lows (closing the pandemic-inspired gap higher in late Feb'20).
  • Focus turns to Biden's economic plan speech due after the equity close today at 1620ET.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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