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‌‌(M1)‌‌ Bearish Risk Remains Present

US Stocks Surge Out of the Gate


After subdued trade across Asia-Pac and European hours, US equity markets are surging following the cash open, with all three major indices comfortably higher in early trade.

Energy is outperforming, staging a decent bounce after being weighed on heavily by oil prices yesterday, with real estate and consumer discretionary not far behind. All sectors are in the green, but communication services and utilities are lagging very slightly.

Individual over/under performers include cruise operators and airlines, which are up as much as 8% apiece, while chipmakers trade very heavy after Micron Tech notified markets that they had halted shipments to China's Huawei.

Month-end rebalancing could be helping stocks higher here, with most month-end trackers seeing a rebalancing into equities from bonds for September.