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US equity futures were mostly flat overnight but have quickly turned higher following weaker initial jobless claims. The measure rose to 221K compared to 214K expected in a rise to the highest since January.
That’s not much for the bulls to hang their hat on, especially with risks around non-farm payrolls tomorrow but there is some optimism creeping in around inflation and Fed cut pricing is up to 72 bps this year from 68 yesterday.
S&P 500 futures are up 31 points, or 0.7% and at the best levels of the pre-market.