February 3, 2023

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Equities erase gains in a choppy session so far

1 min read

European equities turn lower, US futures trade back to little changed

Stocks were faring better earlier to start the session but have given it all back with European indices flirting with a drop into negative territory while US futures have also pared its advance to keep near flat levels on the day now.

The Fed chorus may keep the bigger picture narrative intact but there seems to be an air of exhaustion in equities as of late with the S&P 500 also struggling to hold a firm break higher above 4,200.

That said, any correction from here is still one that arguably favours dip buyers and I don’t see much reason for that to change for the time being. Just think Goldilocks.

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