The selling pressure continued yesterday with most major US indices down ~1.5%. Coming into today the S&P 500 is down over 4% WTD and barring a massive rally today this will be the fourth consecutive weekly decline with the index officially entering into “correction territory”, declining 10% from its all-time high. That being said futures are moving higher this morning helped by oversold conditions and a mix of modestly positive commentary on trade, the potential avoidance of a government shutdown, speculation of further stimulus in China and some hope of a Ukraine resolution. S&P and Russell 2k futures are both trading higher by just over 1%.

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