Last week again saw US stocks play 2nd fiddle to the ASX primarily due to their lack of resources and heavy exposure to tech, the S&P500 remains well below its August high and it’s now looking increasingly unlikely to exceed the milestone that the local index surpassed earlier this month.
- Following the recent consolidation we still believe US stocks are set to rally through to Christmas but 4200 might be the limit for the S&P500.
MM remains mildly bullish on US equities into Christmas
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