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Stocks Start Well, ES1 Within 20 Points of ATH

EQUITIES
  • Equity markets trade well early Tuesday, with European indices uniformly higher and US futures pointing to a solidly positive open. German markets outperform, with the DAX seen higher by 1.4% while France's CAC-40 lags slightly, higher by 0.8%.
  • Europe's energy names are outperforming as WTI crude futures cracked through the previous cycle high to print at the best levels since 2018. Materials also trade well, while consumer staples and communication services are higher, but still lag the broad headline strength.
  • The e-mini S&P saw early gains through last week's highs to narrow the gap with the alltime highs posted mid-May at 4238.25.
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