US stocks consolidated recent gains overnight, although it was a fairly quiet session. Consumer Staples were the only sector that moved in either direction by over 1%, and it gained +1.5 %. Some profit-taking in the “Big Tech” stocks dragged the indices back from fresh highs, with Microsoft, Amazon.com., Meta Platforms, Netflix, and Nvidia all closing lower.
- We continue to believe the bull market in US stocks is intact, but it is maturing slowly but surely.
MM remains neutral/mildly bullish towards US stocks short-term
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