That sets up a more interesting session later in the day
S&P 500 futures have trimmed losses to 5-6 points now after having been down by as much as 26 points earlier today. The European session low saw futures slip by 0.7% or by 22 points before recovering to current levels.
Stocks encountered a bit of a pause in trading yesterday, with the Fed minutes hinting at added uncertainty surrounding the economic outlook. It arguably isn’t anything new but served as a reminder for market participants after having hit all-time highs on Tuesday.
The slight declines now is helping to take some of the more defensive risk tones seen at the start of European trading, which has been rather choppy throughout the week.
In the currencies space, the dollar posted slight gains earlier only to give most of it back. The greenback is still maintaining decent gains against the aussie and kiwi but the yen and franc are the lead gainers so far in European morning trade.
The latter is helped by the nudge lower in European stocks, with major indices holding near 1% declines as we look towards the session ahead.