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US stock futures point to a rebound at the open

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US stock set to gain

The close on Friday was ugly with US stocks falling sharply at the end of the day to close at the weekly low. That’s generally a bad sign and it spilled into a nasty drop in Japanese stocks to start the week.

However there’s been a rethink otherwise and S&P 500 futures are now up 20 points after Friday’s 55 point decline. It’s a similar story in FX where the commodity currencies are bouncing nicely after last week’s rout.

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