I have more thoughtful posts queued up for later tonight, but for now let’s do a quick spin through Asian markets and the U.S. pre-market futures. In short, the ever-solipsistic markets are (mostly) digging all the political happy-talk and general attention over the weekend. For me? You did this for me? Ahhhh … you shouldn’t have!
- All Ordinaries 4,099.30 Up 159.80 (4.06%)
- Shanghai Composite 1,976.48 Down 24.09 (1.20%)
- NZE 50 2,839.62 Up 34.31 (1.22%)
- Straits Times 1,985.80 Up 37.47 (1.92%)
- Seoul Composite 1,262.19 Up 20.72 (1.67%)
- Taiwan Weighted 4,974.37 Down 154.07 (3.00%)
The U.S. pre-market futures are up, with Dow futures up 237, S&P 500 up 32, and Nasdaq Composite up 37. What the situation will be by market open tomorrow, is, of course, anyone’s guess. I’ve been sent legions of rumors, ranging from massive hedge fund collapses to be announced, huge all-cash buyouts, and, the kicker, that the U.S. exchanges will do a Full Pakistan and close for a few days to "sort things out". I attach little credence to most of that sort of thing: Weekends tend to produce a sort of persistent suspension-of-disbelief among traders, resulting in endless deranged chatter.