Investors are shrugging off the early retracement in futures earlier
- Eurostoxx flat
- Germany DAX +0.1%
- France CAC 40 flat
- UK FTSE +0.4%
- Spain IBEX flat
This comes as S&P 500 futures also pared losses in the past hour, though Nasdaq futures are down by 0.3% still. Tech continues to underperform since the vaccine news yesterday, but that is a separate narrative as pointed out here.
After the surging optimism yesterday waned, investors are seeking for fresh direction on the day and that is seeing a more tepid start to European morning trade.
In the currencies space, the yen is leading gains amid a pullback after the sharp drop yesterday but other major currencies are little changed for the most part.
