First Look: Your 10-Second Guide To What Happened Over Night


Good morning.

Markets are generally drifting higher, but that’s unlikely to mean much after 8:30 AM, when the monthly jobs report is released and sets the tone for the whole US trading day (and possibly the second half of the European day).

In Asia, Shanghai had a very big night, rallying 1.5%, while the Nikkei, which had opened down by nearly 1%, ended just barely below flat.

In Shanghai, apparently, officials declared that the 60% property collapse scenario wasn’t a prediction, but truly a scenario. That caused banks to rally.

Europe is drifting higher. The CAC-40 is up about 0.5%, while Germany’s DAX is a bit less. RBS reported a profit for the first time in years, as bad loans finally have begun to abate.

US futures are modestly higher, and there’s very little of anything major happening in any currency markets.

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