The S&P is bouncing back after a midday slide of more than 1%. We’re down less than half of a percent at the moment, undoubtedly on the assumption that softer US economic data will prompt the Fed to buy more ink futures, a tip-off that QE3 is on the way.
EUR/USD is in consolidation mode, finding sellers now toward 1.4870. It trades at 1.4855 presently.
