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Dow Jones futures turn lower as Dollar and US yields lift again

Earlier this morning the US stock futures rebounded, as was covered here at the time, when looking at the Dow Jones price action. That rebound was concurrent with a slight relapse in the dollar and early session gains here for the major European indexes. Well, since then US treasury yields have lifted again and that has pushed the dollar back to session highs, particularly versus the Yen. At the same time, the rebound in the DAX has now given way to fresh session lows, as the index drops towards 15,125. This also helped to push the Dow Jones futures back down, but it is not entirely clear which is leading the other. It does seem like it is Europe, but irrespective of that dynamic, the Dow Jones future is now pricing a reopening not much above 33,300. However, the price action is fluid and it remains to be seen if this latest relapse will hold by the time the index reopens later this afternoon

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