The FTSE 100 is called to open 9 points higher at 7134. U.S. equities fell Tuesday after three straight days of gains, bringing the S&P 500 Index right back to the round number 2,900. The broad declines came on thin trading volumes, with the least amount of shares trading hands across U.S. exchanges this month.
Thin summer markets can be volatile and last week was no exception. A temporary inversion of the US yield curve (2 year bond yields moving higher than 10 year bond yields); unnerved equity markets and triggered a series of lurid headlines about an imminent economic recession.