i think the fed is implying they will lower rates again this morning. cannot see any other reason why the futures gapped up so much.
I have a sneaking suspicion that the market will grind higher today, looks like too many people are looking to fade this gap and its not selling off much.
Couldn't be that futures just gap up on random supply/demand shift, i.e. short-term trading noise. Always need a 'reason' don't we?
The futures were up all day yeserday and they closed on the up ticks friday. The global trading day yesterday was pretty positive and financials around the globe were up yesterday.