S&P Set To Open At Record High As Oil Slides, Bond Rout Takes A Breather

What happened: US equity futures rose for a fourth day, putting the S&P on pace for a record open, as oil slid and bonds caught a bid. Tech led again, with cyclicals joining in. Key numbers: S&P futures +0.5% at 7,865; Dow futures +288 points; Nasdaq futures +0.3%; WTI -2% at $87.62; Brent $98.47; 10Y yield -4bps at 5.27%; gold above $4,150; bitcoin $86,000. Why it matters: JPM called the move a notable broadening as most sectors rose. The oil drop eased pressure on global bonds, with French and Italian debt rallying.

US equity futures rose for a fourth day, putting the S&P on pace for a record open, as oil slid and bonds caught a bid. Tech led again, with cyclicals joining in.

JPM called the move a notable broadening as most sectors rose. The oil drop eased pressure on global bonds, with French and Italian debt rallying.