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Stocks Bounce, But Still Off Last Week's Best

EQUITIES

Equity markets across both Europe and the US traded well Monday, with continental indices rising close to 2%, while US bourses modestly outperformed. The S&P 500 traded with gains of close to 2.3%, while the tech-heavy NASDAQ rose over 2.5% at some points of the session.

  • Markets are bouncing off last week's lowest levels and, despite Monday's decent gains, are still well off recent highs. Whether the bounce can be sustained remains a key sticking point, with firm resistance expected ahead of 3950 in the e-mini S&P.
  • Across the US, energy names benefited from the stabilisation of oil and gas prices to lead Monday's rise, while defensive healthcare and consumer staples still rose, but were close to the bottom of the Monday table.
  • Stabilisation in equity prices led to a lower VIX, with the index shedding close to 5 points and back below 25.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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