You got a sense yesterday that an old friend was back in town and everyone wanted to take her out: Tina (There is no alternative) reappeared with retail investors trying to take her out for a drink again. The Nasdaq whale maybe also reappeared with some large options activity going on. The S&P 500 is within striking distance of a fresh all-time high after a tech-led surge on Wall Street left the broad market +1.6 per cent to close at 3,534, while the Nasdaq jumped 2.6 per cent as it notched its best day since April. This was a real momentum/growth charge and tech volatility also rose as options activity remains elevated. European shares faltered in early trade Tuesday with US futures also a tad lower following Monday’s ramp. All sectors on the Stoxx 600 fell with utilities and tech least affected while consumer cyclicals and financials were at the bottom of the heap.
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