The global equity markets are mixed but US futures are pushing to higher ground. The S&P Futures are up about 35 points to trade around the 4490 area. The market found support in the neighborhood of 4470 with the ultimate low print coming in at 4467.50. Spoos lifted to a fresh high of 4493.75 during the European session and are currently trading toward the top end of the range.
In Asia, China dropped over 2% while Japan jumped over 1%. Sellers remained in control of the Shanghai after the state continued to keep some businesses shut down due to the zero COVID policy. In Japan, the Nikkei advanced with the yen remaining near a 20-year low. Semiconductors were among the leaders with names such as Tokyo Electron and Advantest surging 2-3%.
In Europe, the DAX and CAC are over 1% higher while the FTSE lags. Eurozone headline CPI and Core CPI came in a tick below expectations and may be lending a boost to sentiment. Financials continue to represent leadership with banks such as BNP Paribas, Societe Generale and Deutsche Bank up 2-3%.