S&P 500 futures down 0.5% now

E-minis 12-02

Meanwhile, European equities are also keeping lower with the DAX down 0.6% and other indices are also trading thereabouts on the session currently.

The more tepid risk mood is putting a slight bid in the dollar with commodity currencies leading losses in European morning trade so far.

After a sluggish last few days, it looks like investors are more than happy to pare back on the recent momentum over the past week or so.

As mentioned earlier, the long weekend in the US sets the stage for potential profit taking and de-risking so perhaps we are getting early signs of that here in Europe already.