- US futures repeat yesterday’s pattern of attempting to force a rise, while global stocks fall
- Investors torn between hopes and pessimism of a v-shaped recovery
- Oil prices surge
US futures for the , , and wobbled on Thursday, as European shares declined, tracking Asian markets which all closed lower. The fact that life—and global economies—may not be snapping back to pre-coronavirus norms seems to now be weighing on traders, after Fed Chair Jerome Powell said yesterday that the current outlook right is “highly uncertain and subject to significant downside risks.”
Investors fled to safe havens overnight: the dollar, Treasuries, gold and Bitcoin were up. Oil surged on a multi-percent level.
Global Financial Affairs
This morning, US futures replicated yesterday’s pattern, attempting to push higher despite losses in Asia and Europe.
The supply-demand balance shifted from one-sided optimism that economies were reopening and a V-shaped…