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The push and pull feel in broader markets pretty much is the story so far today, as traders and investors lack any real conviction after not getting any sparks from the US retail sales and FOMC meeting minutes yesterday.
European stocks were little changed early on before slipping a little but are now trading higher as US futures also climb a little. The DAX is up 0.9% and the news from Germany here is very much welcome for consumers. Elsewhere, the Eurostoxx is up 0.4% and CAC 40 up 0.5% on the day currently.
This comes as US futures also tick a little higher, with S&P 500 futures up 6 points now, or 0.15%, after having been down by 18 points earlier in the session. This is keeping major currencies on their toes as well with AUD/USD recovering from 0.6900 to 0.6950 and GBP/USD paring a decline from 1.1995 to 1.2055 at the moment as the dollar gives some back.
But looking ahead, Wall Street will have a challenge up their sleeves with the 200-day moving average a key focus for the S&P 500: