It seems bears are not having enough power at current levels. SP500 futures did not print below yesterday’s low.

Where does all this leave banks? Many fintechs, with their shinier apps and better risk analytics, certainly have an edge over them. But these firms are not trying to usurp lenders. This is because banking is made of two parts, says Miklós Dietz of McKinsey, a consultancy. “Core banking”—heavily regulated, capital-intensive activities such as running

Wall Street futures were in the green as hopes for more fiscal aid boosted optimism. European stock markets gained on rosy earnings forecasts. Japan’s Nikkei posted its biggest weekly gain in two months. Gold jumped, as the dollar weakened and renewed negotiations for U.S. stimulus prompted investors to buy bullion as a hedge against inflation.