US Stock Futures Start the Week Higher
US stock futures pointed to a positive start of the week, as risk appetite is gradually improving throughout in Europe. Markets in Europe rose after reports that China will announce a 50% reduction in car tax. Earlier, Asian stock markets gave up most of their morning gains to end mixed, as major Chinese indexes fell more than 2% each by the end of the session.
Investors also paid close attention to politics. In Germany, local weekend elections increased pressure on Chancellor Angela Merkel. Merkel said she would not run for re-election as head of the Christian Democratic Union (CDU). This statement was made by the Chancellor after the position of the ruling coalition significantly shaken due to the unsatisfactory results of the regional elections (first in Bavaria, now in Hesse).