S&P futures were little changed at 2,425, ignoring the N.Korea tensions of the past two days which will likely be a major topic in the upcoming G-20 summit, as European stocks fluctuate and Asian markets advance. Crude oil fell, snapping the longest winning streak this year, as Russia said it opposed any proposal to deepen OPEC-led production cuts.
With the US out on holiday for the 4th of July, overnight trading volumes have been muted, as Europe started off in the red but has since trimmed most losses (Stoxx 600 -0.1%) while S&P500 futures rose shaprly from session lows spurred by the European open ignoring the risk-off sentiment from North Korea's latest missile launch, trading 0.2% higher, or up 4 points to 2,429 and closing the gap to Monday's last minute tech-driven market selloff.
Authored by Soeren Kern via The Gatestone Institute,
From Bill Blain of Mint Partners.
Morning Porridge - July 3rd 2017
“If you can keep playing tennis when somebody is shooting a gun down the street, that’s concentration…”
* * *
Welcome to the second half of 2017. This week is likely to be thin - the first week of the great summer slowdown and Wimbledon, US holidays and payrolls on Friday.
But... what comes next?
FX Week Ahead, courtesy of Rajan Dhall from fxdaily.co.uk
Despite the NY market holiday over Independence day in the US, we have a number of notable data releases leading up to the main event next week in the May employment report (Friday).