A day of two very different halves for US stocks- S+P 500 bounces from below 5,500

The early part of the US equity trading session yesterday did deliver further falls and the losses were heavy. The S+P 500 did slide below 5,500, but the fall did not extend very far. The index fell to set a new relapse low, at 5,488.73, after opening sharply lower, at 5,527.91. The index had closed on Friday, at 5,580.94. The rebound that followed was actually quite impressive. The index jumped back to set a session high at 5,627.56. The reason for this was all about a complicated options expiry of considerable size set for the end of the month. That was not known here at the time and explains why the index recovered in the way that it did. The S+P 500 later closed 30.91 points higher, at 5,611.85. The price action in the futures this morning has seen it fall back though and perhaps we have to disregard that failure to extend a move below 5,500 yesterday? So, much will depend on what Trump has to deliver on the tariff front tomorrow. The S+P was priced to reopen around 5,575 earlier this morning. It is currently pricing that around 5,590