U.S. stocks look to recover slightly this morning after a miserable day yesterday. The S&P 500 fell 14 points to a seven-month low of 1,050; since April 26 the index has lost nearly 14% of its value. Ninety minutes before the opening bell, Dow futures are up 25 points to 9,819 and S&P 500 futures are 4.40 points higher at 1,052.40. The 2 year Treasury note yield is 2 basis points higher at 0.738% and the benchmark 10 year Treasury note is +4 basis points at 3.186% WTI crude oil is down $0.32 to $71.12 per barrel, but Spot Gold is up $7.73 to $1,247.98. Global equities are mixed. Stocks in Asia are up between 0.09% (China) to 0.56% (Hong Kong), but stocks in Europe are worse off with the FTSE 100 and CAC-40 off 0.91% and 0.90%, respectively. No U.S. data will hit the markets this morning...(read more)

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