Claims, the Fed, the IMF, Grece and Iran on the schedule today

Risk appetite is much better today and that's leading stocks and yen crosses higher. S&P 500 futures show about two-thirds of yesterday's decline erased.

The question is: Is it a bounce or a bottom?

I suspect most are leaning toward a bounce as bearish sentiment picks up.

Five events to watch today:

  1. Initial jobless claims at the bottom of the hour
  2. The IMF world economic outlook at 1300 GMT
  3. The Fed's Brainard and George at 1400 GMT and 1710 GMT, respectively
  4. Greece is due to submit its make-or-break proposal
  5. Today is basically the deadline for an Iran nuclear deal