European equities extend gains to start the morning

Gains cross the 2% level now as US futures also move back near the highs

DAX

The DAX is up by 2.6% on the day now as we see stocks start to rally a bit on the session. US futures are also posting gains of over 3% again now but the gains here all pale in comparison to the sharp drop seen in trading yesterday.

For now, this still has all the makings of a 'dead cat bounce' and a pullback before we see the downside leg resume. Let's see how things play out in the coming hours and if fiscal stimulus can help to shake up the market mood in the coming sessions.

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