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US Hours Add Much Needed Direction After Slow Start

EQUITIES
  • Global stock markets got off to a mixed start on Monday, with European hours seeing relatively non-directional trade. This soon changed after the Wall Street opening bell, which added some much-needed direction to keep last week's all time highs under pressure ahead of the US close.
  • The S&P 500 traded in minor positive territory, fuelled by gains in energy, financials and materials names. The upside momentum was somewhat countered by a softer showing from consumer staples and utilities, but this helped underline a bullish tone despite Monday's slightly slower progress.
  • This week is the busiest for US corporate earnings of the quarter, with Tesla due after market and Alphabet, Amazon, Apple and Microsoft all due in the coming few sessions.
  • On the continent, strength in Banco Santander and BBVA helped drive the IBEX-35 outperform, while Germany's DAX lagged slightly, while closing higher by 0.1%.
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