US stocks were closed overnight for Presidents Day but that didn’t stop the futures squeezing ~0.5% higher to yet again make fresh all-time highs.
MM remains bullish stocks / risk assets through 2021
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European indices didn’t seem to mind the US being closed with strong gains across the board, the standout was the UK’s FTSE which rallied over +2.5% providing a great read through for the ASX i.e. the Australian market is far more correlated to the FTSE with its mining stocks as opposed to the tech dominated US. Two stocks we hold Virgin Money (VUK) and BHP Group (BHP) rallied +6.4% and +5% respectively in the UK which bodes well locally, although BHP has just reporting earnings which I cover in the recording above.
MM remains bullish European stocks
