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Relief Rally

  • Asian markets closed higher (though Japan observed a holiday). China's SHANGHAI closed up 32 pts or +0.93% at 3489.146 and the HANG SENG ended 140.28 pts higher or +0.6% at 23660.28.
  • European equities are up sharply as Russia-Ukraine risks are seen easing, with cyclical stocks outperforming and energy underperforming. German Dax up 190.54 pts or +1.3% at 14693, FTSE 100 up 44.44 pts or +0.59% at 7494.21, CAC 40 up 107.67 pts or +1.59% at 6787.6 and Euro Stoxx 50 up 64.6 pts or +1.62% at 3985.47.
  • U.S. futures are also gaining, with the Dow Jones mini up 274 pts or +0.82% at 33799, S&P 500 mini up 42.5 pts or +0.99% at 4342.5, NASDAQ mini up 192.5 pts or +1.39% at 14055.25.

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