Technical Analysis

Equities push a little higher on the session

  • S&P 500 futures +0.4%
  • Nasdaq futures +0.5%
  • Dow futures +0.4%
  • Eurostoxx +1.1%
  • Germany DAX +1.1%
  • France CAC 40 +1.0%
  • UK FTSE +0.6%

Equities are finding a modest uptick now in European trading, with regional indices pushing gains towards 1% while US futures are also seen rising to the highs for the day with S&P 500 futures being up 17 points, or 0.4%, currently.

There’s not much in terms of a catalyst for the move but it is providing some appetite for the dollar to soften slightly. Perhaps this is one that is more technical-related?

In any case, just be wary that bond yields are also moving higher at the same time. Typically these days, yields tend to move lower in corroborating with a more positive look for broader market sentiment. 10-year Treasury yields are up 4.3 bps to 3.815% so that might be something to keep the optimism in check.

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