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Global Stocks Rebound From N.Korea ICBM Jitters; US Markets Closed For "Amexit Day"

Global Stocks Rebound From N.Korea ICBM Jitters; US Markets Closed For "Amexit Day"

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.

S&P Futures, Euro Shares Start 2nd Half Solidly In The Green; Oil Rises For 8th Day

S&P Futures, Euro Shares Start 2nd Half Solidly In The Green; Oil Rises For 8th Day

S&P500 futures have started the second half solidly in the green, up 0.3% to 2,429, tracking European markets broadly in the green, while Asian stocks fell slightly and crude oil is little changed. With US markets set to close at 1pm today trading volumes in many markets remain light before Tuesday’s July 4th holiday and as investors await Friday’s report on the American jobs market. Traders will be looking at key upcoming economic data for validation of the hawkish shift from central banks that roiled markets last week. 

Dollar, Bond "Carnage" Pauses; Global Stocks Rebound Led By Tech Shares

Dollar, Bond "Carnage" Pauses; Global Stocks Rebound Led By Tech Shares

S&P futures rebounded shortly after the stronger than expected European CPI print, rising 0.3% to 2,426, as markets try to forget all about yesterday's brief 50% VIX surge and tech rout, which trimmed the seventh consecutive quarterly gain for the S&P 500 Index to 2.4%. Europe shares rose 0.4%, led by tech stocks, after a drop in Asian markets, as oil and the dollar gained.

Euro Surges, Yields And Stocks Rise As Central Banks Deliver Coordinated Message

Euro Surges, Yields And Stocks Rise As Central Banks Deliver Coordinated Message

The euro soared to the highest level in over a year while bond yields and global shares also climbed, as an ongoing barrage of coordinated hawkish comments from central banks signaled the era of easy money might be coming to an end for more than just the United States. S&P futures were fractionally in the green following the best day for US equities in two months, as banks climbed after passing the Fed's stress tests and announcing bigger than expected shareholder payouts.

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