Global equities higher overnight. US markets rose as tech stocks continued their strong run, while regional banks were under pressure again as the Biden Administration proposed stronger measures to reduce risk and Fed officials reiterated their resolve to lower inflation. S&P 500 up seven of the last nine session, back above the 4000 level and above levels seen just before the start of the banking sector turmoil. Nasdaq is now a bull market for the first time in nearly three years. US treasuries mixed, 10Y yields fell ahead of PCE data. European equity markets are broadly higher, taking encouragement from softer-than-expected inflation data from Germany and Spain.Dow Jones up 141 points (+0.43%). Dow up 188 at best, down 35 at worst. S&P 500 up 0.57%. NASDAQ up 0.73%. VIX Volatility Index down 0.5%. In Europe, STOXX 50 +1.3% FTSE +0.7% CAC +1.1% DAX +1.3%. SPI Futures are up 38 points (+0.53%).
Catch up on all the latest with Henry Jennings on today’s Pre-Market Podcast.
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