S&P futures are indicating a higher open today, up +0.55% following Asian markets extended their recent rebounds today. Optimism is being fueled by dovish remarks from the Bank of Japan's Deputy Governor Uchida, which have eased fears of another imminent rate hike amid financial instability. In today’s highlights, the yen continues its retracement, erasing this week's gains against the dollar following BOJ Deputy Governor Uchida's speech downplaying further rate hikes. Uchida emphasized the need to maintain monetary easing, citing volatile financial and capital markets. Uchida stated the Bank won't raise rates amid market instability and suggested recent US data reactions are exaggerated.
Companies mentioned: Illinois Tool Works (NYSE:ITW), WPP (LON:WPP) Group, Cathay Pacific Airways