Earlier in the morning, Europe had started off negative, and US markets were as well.
In the last 30 minutes, there’s been a significant turnaround.
Leading the way is Italy, whose market is up 1.46%, in part due to a May industrial production number that was much better than expected.
Both Germany and Spain are now positive as well, and borrowing costs are falling in both.
US futures, which had been lower, are now back towards flat.
ORIGINAL POST: So far, it’s another modestly negative day for European and US markets.
It’s nothing too wild, however.
Germany is off 0.5%.
Spain is off a little bit.
Italy is up by a hair.
And actually Italian and Spanish borrowing costs are narrower by a hair.
US futures are pointing to modest losses at the open. Nothing wild.
One piece of good news: May industrial output in Italy actually grew by 0.8%, beating expectations, and rebounding nicely from a 0.2% decline in the previous month.