Following the initial jobless claims numbers, S&P 500 futures were pointing to a roughly 5 point gain at the open but sentiment began to slip in the run-up to the open and the index is flat at 1552. Softer stocks are weighing on USD/JPY.
The index is in a precarious place. There was a strong bounce from 1540 in early April but even a re-test of that level would be a negative sign.
