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Stocks Stable After Monday Volatility

EQUITIES
  • Equity markets traded on a far more stable footing Tuesday, with all three major US markets in the green following the London close. Tech and growth-led names recovered some poise, with the NASDAQ outperforming the likes of the S&P500 and Dow Jones.
  • This put the consumer discretionary and tech sectors at the top of the pile - in a reversal of the early Monday trading pattern - although gains were outstripped by energy names, as oil & gas explorers benefited from the rally in crude prices.
  • The e-mini S&P managed to consolidate back above the 50-dma, which has provided solid support in recent weeks - helping markets turn to focus to the next upside levels at last week's 4715.75 and the YTD highs of 4808.25.

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