Drumbeat Gets Louder to Play a Bit More Defense: Taking Stock
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Stock futures are slightly lower on an eerily quiet start to the day, though we did have one promising economic datapoint out of the gate with small business optimism climbing above expectations (actual 108.8 versus estimate 108.0) to a record.
Europe stocks also traded down, despite the stronger-than-expected ZEW data from Germany, on weakness in the miners sector: ArcelorMittal and Fresnillo are both down more than 2.5%.