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Stocks Recover Off Shaky Start

EQUITIES
  • Equities started the session on shaky footing, after a sharp drawdown in Chinese equities overnight led to a negative morning across European cash and US futures markets. This sentiment soon reversed, however, with dip-buying once again helping US names rise back above water.
  • Strength in energy and materials sectors underpinned the recovery in the S&P 500, while healthcare and real estate were the worst performers.
  • European indices were more mixed, with underperformance in Germany's DAX countered by strength in Spanish and Italian markets.
  • Corporate earnings season remains a focus, with Tesla due after-market and Apple, Alphabet, General Electric and Visa on the docket for Tuesday.

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