DAX futures pick up the pieces

Earlier today the DAX futures got slammed. The index had closed yesterday modestly higher, rising by 67 points, to end the session at 17,837. Earlier today the news from the Middle East sent the futures to price an opening to around 17,400. However, they are rebounding again and just now comments from Iran have seemed to help that rebound. According to reports just a moment ago, Iran is not planning to respond to the reported Israeli attack. Perhaps the face-saving exercise for all parties has now been completed? Well, it is surely too early to reach a conclusion on that. It is also important to remember that the geography of the region makes a direct land based incursion by either side very tricky unless other states become embroiled in any conflict. If that were to happen, it would take all this to a whole new dimension. So, right now the global markets are continuing to pare back those earlier losses in terms of stocks. The vista is still red though, just not as red as it was a couple of hours ago. The DAX is currently priced to reopen at around 17,680