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Stock Tear Continues, Three Days of New Highs

EQUITIES
  • Equities across the US extended their winning streak Tuesday, with the e-mini S&P running to new alltime highs for a third consecutive session. The new high watermark at 4291 brings prices well within range of the next bull trigger at 4230.
  • The US tech sector was the primary driver, with consumer discretionary and industrials names also solid. The only notable lagging sectors were utilities and consumer staples.
  • Notable outperformers were Morgan Stanley, with shares adding over 3% after announcing plans to double their dividend after passing the Fed stress tests late last week.
  • The picture across Europe was similarly positive, with Germany's DAX leading with gains of 0.9%, while French and Spanish indices were more muted.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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