Global stocks held near record highs on Thursday, with US equity futures flat due to the Thanksgiving holiday while the rally in European stocks paused, as recent vaccine progress and hopes for further stimulus – whether monetary or fiscal – kept markets bullish.
While US cash equities are closed for the Thanksgiving holiday, S&P futures were flat after fading modest overnight gains, however Nasdaq futures were well in the green, as cyclical companies including banks and energy firms which have benefited the most from the post-vaccine surge retreated while more defensive tech shares gained.
Markets also took a boost from minutes from the latest Fed minutes which showed that officials discussed how the central bank’s asset purchases could be adjusted to provide additional support to the economy. The minutes said policymakers may give new guidance about its bond-buying “fairly soon”.
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