Deutsche Bank strategists highlight broad resilience across global equities, led by record-setting US tech stocks and steady gains in Europe. Asian markets are also mostly firmer, while mainland Chinese markets remain closed for the Golden Week holidays and US and European equity futures point to further modest gains.

Stocks hold up against bond selloff

"Once again, US tech stocks helped power the equity resilience, with the S&P 500 (+0.66%) closing within half a percent of its record high, whilst the NASDAQ (+1.05%) and the Mag 7 (+1.23%) both hit new records."

"And for Europe there was also a fair amount of resilience, with the STOXX 600 (+0.36%) ending the day around 4% beneath its own record high from August. Indeed, apart from France there was a steady performance, with gains for the FTSE 100 (+0.34%), the DAX (+0.09%) and the FTSE MIB (+0.66%)."

"Meanwhile, China’s onshore financial markets remain shut for the National Day and Golden Week holidays and will resume trading on Thursday. US equity futures are up around a tenth of a percent with European equivalents up four-tenths."

"Asian equities are broadly firmer this morning, with the Hang Seng (+0.77%), the Nikkei (+0.82%) and the S&P/ASX 200 (+0.51%) all trading moderately higher but with the KOSPI (-1.44%) turning lower after opening higher. The index was closed yesterday for holidays."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)