- Equities look surprisingly buoyant. The S&P 500 had a particularly good 5-day streak, rising 6.4% by Friday. U.S. futures contracts on the S&P were flat this morning, prior to the opening bell. Early trading in Europe and Japan was robust as investors brushed off a swathe of reports showing dramatic declines in the U.S. import trade.
Global stock markets looked buoyant this morning before the opening of the New York Stock Exchange despite a swathe of reports suggesting that shipping and freight imports into the U.S. were in a dramatic decline. Among them, Apollo Global Management published a slide deck arguing that the reduction in imports would be enough to trigger a recession in the U.S. starting in the summer.
