Russell 2000 futures point to resumption of Reflation Trade
Oil’s improving demand outlook has reversed its technical trajectory
Shares in Europe followed US contracts for the , , and higher on Monday after strong earnings last week along with improving economic prospects, offsetting concerns of rising inflation and higher taxes in Europe. The UK market is closed today for a bank holiday.
This morning, all four major US futures were in the green, with the reflation trade appearing to be back on track. Contracts on the Russell 2000 outperformed, including by 3:1 for those on the NASDAQ 3:1 at time of writing.
The dollar was flat but gold gained.
Global Financial Affairs
Consumer products and technology stocks buoyed the Index which was up as much as 0.6% earlier this morning, snapping a four day decline.
Slowing the advance was Siemens Gamesa Renewable Energy (F:) after Citi wrote the company’s guidance disappointed.
The pan-European benchmark has gained 10% so far this...read more...