US stock futures lower

Trump is campaigning with Ted Cruz in a rally at the moment but there is nothing aside from the usual Trump rhetoric.

Yet S&P 500 futures are down 0.6% and USD/JPY has slipped to 112.70 from 112.84. That's a modest move but it fits with the recent theme of risk aversion.

Meanwhile, Citi is out with an eyebrow-raising report saying GM shares can go to $134. They hit a 52-week low of $30.57 yesterday.