Global markets have kicked off the new quarter with solid gains from Asia to Europe (as previewed last week in "The Technical Overhang Is Done, July Starts With A Bullish Eruption") while US equity futures were in the green, with sentiment getting a boost thanks to Tesla and BYD climbing on record quarterly sales.
Oil rallied as Saudi Arabia and Russia extended oil supply cuts. At 7:45am ET, S&P emini futures were flat, reversing an earlier rally, with trading activity subdued by today's half-day schedule ahead of the upcoming July 4…Oil, EVs, And Big Tech Hit The Ground Running In The Second Half
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