U.S. equities sank back into the red
U.S. equities sank back into the red after blue chips marked highs earlier following decent data earlier and the Disney/Fox $52 B mega-merger. The Dow and S&P 500 stuck a toe in the red, while NASDAQ is still just in the black. Europe never really went along with the ride of the bulls, however, after the ECB presser was upbeat on economic growth. The Euro Stoxx 50 traded 0.7% lower, with similar losses across the region. Within the Dow the worst performers were CAT -1.3%, Travelers -0.8% and Verizon -0.7%, while on the upside were Disney +2.4%, Boeing +0.8% and Nike +0.6%. The dollar index remains slightly firmer near 93.56, while VIX equity volatility is 1% lower near 10.0 after a tight range and gold is roughly mid-range near $1,253. The final tax package vote is likely to reach the floor next week, which may keep investors waiting a tad longer for confirmation on the final shape of the plan. Treasury yields have meanwhile eased back to session lows at the long-end, while remaining elevated at the front, in line with the curve flattening trend.