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Stocks Resume Incline, Hitting New Highs

EQUITIES
  • Having paused the rally on the Fed rate decision, equity markets resumed their incline Thursday, with both cash and futures markets hitting new all time highs in the process. Financials and materials names were the behind the rally, with communications services names the sole sector in the red across the S&P 500.
  • Earnings remain a key driver for prices, with the season so far solidly ahead of expectations. Additionally, gold miners traded well on the rally in spot gold, with Freeport-McMoRan among the strongest performers in the index.
  • A similar picture across Europe, with Italian, UK firms leading the gains, while the EuroStoxx50 and France's CAC-40 lagged slightly.

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