US stocks were again dragged higher by the Tech Sector overnight this time following Teslas result, the beat helped founder Elon Musk’s business rally almost 10%. Overall it was another choppy session for stocks which saw early weakness following the greater-than-expected rate hike by the ECB reigniting concerns around the overall health of the European region, this sentiment wasn’t helped by PM Mario Draghi’s resignation which triggered an election for Italy but as has been the case of late US stocks were able to shrug off bad news to climb higher.
- Earnings season is proving supportive of US stocks which are helping to drag the indices towards our target areas, only another 4-6% to go.
MM is mildly bullish US equities over the coming weeks
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