S&P 500 futures are about 5 points above fair value after falling 5.5 points in volatile trading on Friday.

Markets were slightly relieved after Portugal’s government unveiled a bailout for Banco Espirito Santo but there are fears that the swift action was to hide deeper troubles.

The market that’s getting fresh attention is China. The Shanghai Composite rallied 1.7% today and is ripping over the past two weeks on rumors of looser capital controls.


Shanghai Composite