A.M. Update

S&P futures are up +0.5% as the 10-year yield is down 3 basis points. Mike Wilson, Chief Investment Officer at Morgan Stanley, said in a CNBC interview that he expects a “pretty steep decline in inflation.” There’s been a positive response to earnings from retailers Best Buy (BBY +8.7%) and Abercrombie & Fitch (ANF +16.6%)…