The Fuse
Following a massive rebound Monday stock futures are modestly higher this morning, trying to pull off a followthrough day. After failing to close out on the highs of the day it might be challenging, but heavy short covering could induce more buyers to come in. Volatility is lower this morning.
Stocks overseas were mostly higher as word spread that the war in Iran might be over very soon. A prolonged crisis would be damaging to most economies globally. Europe closed higher by 1.6% led by strength in France and Germany. The FTSE rallied as well, picking up 1.4% while Japan and Hong Kong picked up big gains, the former up 2.9% and the latter up 2.2%. Shanghai up by .6%. Crude oil is falling again, down 6 to $88 per barrel, still well-elevated, gold is up sharply as is silver. The dollar index fell .2%, Yields across the board were steady.
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