US equity indexes closed broadly higher, SPX +37pts (0.8%) at 4505. Nasdaq comp' +0.8%. Dow +1.0%. The Transports settled +0.9%. R2K +1.4%
SPX - daily
VIX - daily
Summary
US equities opened moderately higher. There was a brief cooling wave (as yields spiked), but a secondary wave saw the SPX print 4508.
Today saw the IPO of the UK's 'Arm Holdings', although the company was 100% owned by Softbank.
The listing price was $51.00, with Softbank still retaining 90% ownership.
The mid/late afternoon saw considerable chop, if leaning upward to print 4511, and settle at 4505.
Volatility was very subdued, the VIX settling -4.9% to 12.82.
Ohh, and as for ARM...
It settled +24.7% to $63.79, on massive vol' of 126.4M.
A test of the IPO $51s appears probable next week.
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Goodnight
from London
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