US stock set to gain
The close on Friday was ugly with US stocks falling sharply at the end of the day to close at the weekly low. That’s generally a bad sign and it spilled into a nasty drop in Japanese stocks to start the week.
However there’s been a rethink otherwise and S&P 500 futures are now up 20 points after Friday’s 55 point decline. It’s a similar story in FX where the commodity currencies are bouncing nicely after last week’s rout.