The Fuse
Futures are rallying this morning as the bulls look to bring a followthrough day after Tuesday’s remarkable session. If the bulls can pull this off today there is possibly more upside to come towards the SPX 500’s 20 day moving average at 6638 but falling quickly (110 points away from Wed close).
Stocks across the pond were higher, Europe managed a nice rally with France and Germany gaining more than 2%. The STOXX pushed higher by 2.3%, Japan up 5.2% while Hong Kong up 2.2% and Shanghai popped 1.5%. Oil is back below $100 while gold is rallying sharply again, silver up slightly. The US dollar index fell .3%, yields also falling with German bunds off 7bps and 10 yr US treasury yields down 5bps.
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