Monday’s equity markets session unwound in a mirror like fashion to last Friday. After an unsuccessful breach lower in its 200dma, the S&P500 turned around and ran away in the other direction ending with a 2.7% gain (3.2% for the Nasdaq) that erased more than last Friday’s losses. The gains for the broader MSCI “world” was +1.5%. Facebook was a noticeable underperformer, still closing slightly higher after the Federal Trade Commission took the unusual step to confirm that it had an open, non-public probe into the company’s privacy practices.
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