US asset prices must increase every single day or the entire house of cards will come crashing down. It is a matter of national security at this point.
I can tell you 2/3 of the moves in index futures occurs overnight. That's an average and pretty dang close. US traders who trade index futures during the cash session are out of luck. You can always increase leverage to make up for the lack of range. Nothing like a bright green open though.
If the President would have made an announcement last night, it would have signaled war is coming. The fact he did not.... is a sign of deescalation. History has shown the State Of The Union address in Feb is when a-lot of wars start.
Overnight markets mainly are Asian and Euro traders and many of those smart traders/institutions overseas pour their money into US market whenever they spot a good opportunity as they figure that US is the strongest economy and promises the best innovation and enterprising future.
Can you imagine how many stops got hit last night. Bet there are a lot of pissed folks. With Trump there has been a lot of these spikes. Like the China called last night..pffttttt.
Some of these little squirts up and down during the US session are triggered at certain times. I find near the 10:30am CST is worth noting.
Up up and away......No stopping the free money train now. The little dust up had the FOMC ready to cut rates again. Folks just hang on, there is little chance the FOMC will allow these markets to correct slightly.
Remember folks, Trump has tied his presidency to the stock markets. He will lie cheat and steal to keep the markets afloat. As you have witnessed, not even war will tank the markets. However, Trump has made himself vulnerable, Iran may want to keep lobbing missiles, and Trump will be forced to respond. Just a thought.