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Stocks Ebb Off Highs at NY Crossover

EQUITIES
  • A positive start to the Thursday session has faded into the NY crossover, but underlying strength remains thanks to a decent showing from the European healthcare sector, while industrials and energy counter weaker financials and consumer staples firms.
  • US futures are in minor positive territory, with the e-mini S&P around 12 points off the overnight lows, but stalling ahead of resistance into the week's 4542.25 all-time high.
  • The downtrend in volatility persists, pushing Sep VIX futures to new contract lows for a fifth consecutive session.

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