- S&P 500 (SPY) futures +1%, with the Nasdaq 100 (QQQ) +1.2% and the Dow (DIA) +0.8% after the President leaves a decision on Syrian military intervention up to a Congress skeptical of any such action. The President again reminded any strike - should it take place - would be limited in nature.
- Europe is ahead by nearly 2% as it also gets encouragement from the continent-wide PMI rising to more than a 2-year high.
- Asia was mostly higher, led by a 2% gain in Hong Kong (EWH, EWHS, FHK) after China's PMI returned to growth territory.
- Nothing comes for free though, and the rebound in equities has 10-year Treasury futures lower by 0.4%. A move like that in futures is equivalent to about a 5 basis point increase in the yield, which would put the 10-year at 2.84% were it trading this morning.
- Index ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDB, QQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE, DIA, DDM, UDOW, DXD, SDOW, DOG.
- Treasury ETFs: TLH, TLT, IEF, DTYL, DLBL, ILTB, TENZ, ITE, TLO, EDV, VGIT, VGLT, TMF, TYD, LBND, UBT, UST, TMV, TYO, DSTJ, DSXJ, SBND, PST, TBT, DTYS, DLBS, TBF, TTT, TYNS, TYBS, TBX.
Futures sharply higher as President hands Syria off to Congress
Sep 2 2013, 07:57 ET