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Futures Hit Record, Nasdaq Rises On One Year Anniversary Of VIX 82

Exactly one year ago today, the financial world as we know it was on the verge of collapse, with the Dow Jones plunging to 20,000 after the VIX exploded to a record 82.69.

Fast forward to today, when the market is about 66% higher, and on Tuesday morning futures on both the S&P 500 and the Dow Jones edged higher hitting fresh all time highs – the Dow notched its sixth consecutive all-time high on Monday on optimism over a $1.9 trillion fiscal stimulus package –  for the second day in a row while contracts on the Nasdaq 100 rose about 0.5% by 730 a.m. ET, pointing to an extension of a rebound in technology stocks that were at the heart of February’s selloff. The Nasdaq 100 is still about 5% below its Feb. 12 record closing high. Traders were looking ahead to today’s industrial production and retail sales data (which as a reminder, will be a huge miss), while the Federal Reserve was set to kick off its two-day policy meeting.

Europe’s Stoxx 600 Europe rose 0.5% with autos, financial services and banking sectors the strongest performers after data showed investor confidence in Germany’s economic recovery improved after the government laid out a path toward ending coronavirus lockdowns.

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