The major US stock index futures have turned positive, indicating the investors across Wall Street may cheer a surprise reserve ratio cut announcement by PBOC. At the time of writing, Dow futures were up 17 points or 0.10%. S&P 500 futures were up 3.5 points or 0.18% and Nasdaq futures were trading largely flat. Meanwhile, stock markets across Europe have recovered off lows to trade largely unchanged on the day/or with moderate gains. Euro Stoxx 50 was down 1% earlier today, before recovering to trade flat ahead of the US opening bell. However, Germany’s DAX remains weak by 0.70% or 66.30 points. The sentiment improved somewhat after PBOC announced a 50 basis point cut in bank’s reserve requirement ratio (RRR). For more information, read our latest forex news.