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Stocks on the Bounce as Buy the Dip Dominates

EQUITIES
  • US equity futures were hit hard in early Tuesday trade, with concerns over the more transmissible Delta COVID variant dominating price action and sending stocks spiralling. This price action was short-lived, however, with the buy-the-dip strategy remaining the dominant play.
  • European markets are uniformly in positive territory, with UK's FTSE-100 the leader (+0.7%) while French & Spanish firms lag slightly, but still hold above water.
  • Tech names are leading the rebound across Europe, with US futures mirroring the sentiment via strength in NASDAQ futures.

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