Futures are up this morning, rather high up we might add. This is a surprising turn based on the extremely gloomy predictions from last week about worrisome and bothersome corporate quarterly results primed to turn the markets south, or as they like to call it - a correction. Kinky.
The moment seems to be positive but that dreaded correction really is still looming large. Green shoots may be made out of astroturf. So the long run is still not clear sailing.
Unfortunately futures have no meaning around 4pm. This is a fickle beast lately and even though futures are up surprisingly high, as more corporate and consumer pricing data comes in over the course of the day, things can change fast.
Having said all this we might suspect that the day will end on a positive note. I'd say the odds are about 50.6 to 49.4, gains.
Reuters: Stock futures jump as Intel spurs optimism
...as Intel Corp's solid results and upbeat outlook reinforced hopes for an economic recovery...
In Europe, major indexes were up almost 2 percent.
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