S&P 500 futures are up by 0.4% on the day
Markets are looking rather mixed as a whole in European trading so far. Currencies and bonds are mostly looking towards the FOMC meeting tomorrow with the dollar and Treasury yields slipping. But despite the bid in bonds, equities are actually gaining ground on the day.
European equities have also moved off their lows with the DAX leading the recovery, thanks to a move higher in auto stocks in particular; no headlines that I can point to for that. The index is now trading up by 0.3% near the highs after starting off in the red. Meanwhile, E-minis are also recovering well to close in on the day's highs posted in Asian trading.
It's still a bit early to call for a rebound in US equities just yet but the signs are encouraging at least. Nonetheless, currencies appear poised to do their own thing with the dollar still holding relatively weak against the likes of the euro, pound and kiwi. Meanwhile, USD/JPY remains offered as Treasury yields continue to hold near the lows for the day as well.
