Risk appetite swings to the upside
S&P 500 futures are 30.4 points higher after a 29.9 point fall on Friday.
That's the nature of the beast at the moment. China is the tail wagging the dog. A late rally in Shanghai stocks last night is getting credit for the turn in sentiment.
As Ryan highlighted, the standout performer for the second day is the pound. Commodity FX is also climbing, especially the Australian dollar despite yesterday's Glencore cutbacks.
Perhaps more than China the big driver today is the end of Summer holidays. Global trading desks will be full-staffed today for the first time in awhile.
