Stock markets are bouncing off their lows after President Putin urged separatists to postpone plans for a referendum and said he will pull Russian troops back from the border with Ukraine. Easing tensions in Ukraine is a positive development, but it's not clear what will happen next. When there is uncertainty the stock market is unlikely to rally, unless we get some good news on the economy / M&A / earnings.
Good numbers came from China overnight, the Chinese trade balance was above forecast as was Chinese exports, this is another positive development for stocks. Today the trend should be up at least until Wall Street opens at 2.30pm.