U.S. equities resumed their rally
U.S. equities resumed their rally after a tepid start, given another leg up into the record books by the upward revision on Q2 GDP and remarks from Canadian Foreign Affairs Minister Freeland, who remained cautiously optimistic in two press briefings on NAFTA negotiations. The S&P/TSX is 0.4% firmer, while the major U.S. indices are 0.3-0.8% higher, paced by the fresh run-up on NASDAQ/tech as confounded leveraged investors got caught short. Dow's 26,616.7 January high is required (1.76% away) for a trifecta of records to be complete and a deal with Canada could be just the catalyst this week. Within NASDAQ the top performers are Regeneron Pharma +3.5%, Vertex Pharma +2.8% and Take-Two Interactive +2.6%, while the deepest decliner is Tesla -2.4%. VIX equity volatility index has fallen 1.3% as a result to the 12.35 area, while the dollar index is slightly lower near 94.66, though risk proxy USD-JPY surged to 111.82 highs with stocks' gamble higher. WTI crude topped $69.55 bbl after EIA draws before cooling to +1% and $69.25.