Welcome to March
US equity futures point to a 42 point gain in the S&P 500 at the open. That would erase Friday's 18-point decline. Note though, that it would only put the market back to where it was about 10 minutes before Friday's ugly close.
That suggests it's more more a mechanical move than a fundamental reevaluation.
That's especially important given that US Treasury yields are mostly higher today, with 10s up 2.5 bps.
Then again, price action can be its own catalyst and FOMO could drive another leg higher in equities.
