Macro Morning

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By Chris Becker

While the narrowly composed Dow Jones made a new high on the back of Apple, it was a mixed night in risk markets with European stocks off, and the broader S&P500 putting in a scratch session. Highly anticipated earnings from Tesla came after the market closed and the better than expected results (still losing cash, but higher revenue, and margins about to explode higher on the Model 3 rollout) sent shares higher in after hours trade.

Yesterday in mainland China the Shanghai Composite was down 0.3% to 3286 points as it again reaches and fails to breach the next obvious resistance at the 3300 point level. Will it try again today?

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