European markets are rallying on Friday, but it looks as if there is going to be some incredible volatility again following a rocky day for stocks.
France’s CAC 40 is up 1.78%
Spain’s IBEX is up 1.95%
Italy’s FTSE MIB is up 1.70%
Britain’s FTSE 100 is up 1.04%
Germany’s DAX is up 1.68%
In Asia, Japan’s Nikkei closed down 1.40%. It’s now down 9.48% since the start of the year, one of the worst-performing indices in the advanced economies during 2014 so far.
Hong Kong’s Hang Seng closed up 0.60%.
US stock futures are climbing, with the S&P up 10.5 points and the Dow up 85 points.
In Europe, construction output figures will be released at 5 a.m. ET.
It’s a fairly light day for data from the US, but Federal Reserve chair Janet Yellen will be speaking at 8:30 a.m. ET. Markets will be looking for any comment on the current volatility, or on the end of QE. US housing starts figures are also out at 8:30 a.m., with analysts expecting over a million units.