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Stocks Strike New Highs Into Year End

EQUITIES
  • The S&P 500 hit new record highs Thursday in both cash and futures space, with the e-mini S&P touching 4799.75 - making the 4800 mark a clear level of psychological resistance. Gains for equities come as fears over the Omicron variant continue to fade, and as the MNI Chicago PMI came in well ahead of expectations at 63.1 vs. Exp. 62.0.
  • The communication services and healthcare sectors drove gains in the US, with the likes of Twitter, General Motors and ViacomCBS at the top of the table. Notably, re-opening names surged, helping the likes of Penn National Gaming, Match Group and Norwegian Cruiselines to add well over 2.5% apiece.
  • The Friday session will likely be a muted affair despite a full trading session for US equities, with European markets being largely closed throughout. European indices generally gained, with the EuroStoxx50 higher by 0,5%.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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