With trade war between the US and China set to begin at midnight on Friday, the market is taking on a oddly relaxed attitude, with S&P futures rising back to where they were before the waterfall drop just before Tuesday's close.
"All of these products were born of central bankers with no self-control, individuals who’ve long since demonstrated that they are lacking in common sense. The fact is, they’ve gorged together and fed each other’s risky markets in concert. Now comes the time for the real discovery, the revelation of the feedback mechanisms that will infect each other’s markets and economies."
After seven years of utter devastation and bloodletting, a consensus has emerged among all the belligerents of the Syrian war to de-escalate the conflict, except Israel which wants to further escalate the conflict because it has been the only beneficiary of the carnage in Syria...
While the general risk-on rally across global markets persisted for a third day amid sliding volatility, the rally appears to have lost some steam with Dow futures lagging after last night's disappointing IBM revenues, which in turn may have capped the S&P ramp that started on Monday.