Futures were higher overnight then got crushed around 5:00 AM when China said they would retaliate against the US. Then China made a comment several hours later to the effect that if the USA meets us halfway we could ….blah, blah, blah.
So the SPX futures rallied about 35 points from 6 AM off this headline. The market isn’t open yet, but the algos are already smoking and the insanity begins.
Right now index futures are up between 1/2-3/4%…….at least until the next headline.