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US Equities consolidate

EQUITIES
  • US Equities have seen further recovery throughout the early European session and into the US session, with some follow through on the back of the lower revisions for the 3rd reading GDP and core PCE.
  • Emini is still some 40 points short from the sudden large sell off Yesterday, happened circa 90 minutes pre closes.
  • Although no clear trigger was seen, some profit taking ahead of the Holiday as market traded at record high and into overbought territories, Zero day Option expiries, decent Program sellers, and option related Gamma selling were all suggested, as well as the underperformance of Fedex which was down over 12% at some point.

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