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US stock futures turn positive, Dow futures up 0.10%

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    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).
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