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Stocks At Alltime Highs, Banks the Beneficiary

EQUITIES

Equity markets in the US surged further Thursday after President Trump confirmed he would oversee an orderly transition of power to the Biden administration on January 20th, despite his protests that the election was rigged. Risk-on was evident from the off, with the e-mini S&P hitting new alltime highs shortly following the cash open.

The financials sector was an early beneficiary, with the likes of Citigroup, Bank of America and JPMorgan rising as much as 3%. Tech names and consumer discretionary firms also traded well, while utilities and consumer staples were the sole sectors in the red.

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