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Stocks in a Holding Pattern, But All Time Highs in Sight

EQUITIES
  • An unimpressive session for stock markets Monday, with the three major US indices in a holding pattern and just below all time highs printed last week.
  • The e-mini S&P trades just a few points below last week's 4,121.50 high, but Monday trade lacked sufficient momentum to press the index to new highs.
  • In cash markets, consumer discretionary and materials outperformed, while communication services and tech (last week's outperformers) were the laggards Monday.
  • Similarly in Europe, indices were mainly lower with UK's FTSE-100 and Spain's IBEX-35 at the bottom of the pile. Italy's FTSE-MIB fared better, closing with gains of 0.1%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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