RISK ON!The tone of the day has been set by China, where beaten down stocks finally had a good day, rallying nearly 3%.
According to Bloomberg, a rally of the driver was a move by the Chinese government to let insurers invest more in bank stocks.
Europe is higher across the board.
Italy is up nearly 1%.
Spain is up 0.8%.
Germany is up 0.5%.
US futures are up modestly.
Helping things: A significant jump in German services PMI.
There’s lots of data in the US today, including services ISM and the ADP jobs report.