We still have an eternity between now and the 9:30 AM opening of US stock markets, because at 8:30 we get the jobs report, and that could change everything.
But in the meantime, US futures are set to open sharply higher, perhaps to the tune of 1%.
What’s the reason for that?
Yesterday, while most Americans were not paying attention to markets, the ECB and the Bank of England, both took moves towards easier policy in the form of new language about keeping rates low.
Markets soared in Europe, and US futures got caught in the drag higher.
Again, everything could change between now and the open, but for now, that’s why futures are pointing to a sharply higher open.
For more on what happened with the ECB and the BoE yesterday, see here.
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