Zero Hedge: It may be a holiday in the US, but US equity futures are once again levitating and on the verge of new all time highs, while global shares posted their longest winning streak in three months on Monday, aided by fading odds of an imminent taper coupled with talk of more stimulus in Japan and China, while oil slid as the Saudis cut prices for Asian customers by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels.
The labor day holiday in the US means trading conditions will be extremely thin, which helped MSCI’s all-country world index gain 0.2%, touching a new record level and on course for its seventh consecutive closing high. Meanwhile in the US, S&P futs rose 0.2% to 4,544 while Nasdaq futures inched up 0.3%.
In Europe the STOXX index of 600 European companies was 0.7% higher, inching closer to August record peaks, while the Euro Stoxx 50 rose as much as 0.9%. Read More