Strong liquidity inflows push live index futures higher, led by blue-chip outperformers. Dow Jones futures rally 0.4%, supported by materials and infrastructure sectors benefiting from government spending initiatives. Still, not everyone is convinced the rally will hold. Bears highlight that much of the move has been perpetual futures-driven, leaving liquidity stacked below. If momentum stalls, analysts warn of a sharp retrace: For one, as our Alexandra Canal just highlighted, there is clearly a desperation among investors for the Trump administration to step in and back off its firm tariff stance. Live index futures are trading with heightened volatility today as global markets react to central bank rate comments. S&P 500 futures are hovering near 5,215, up 0.3%, while Nasdaq futures show modest strength. Traders are watching PMI data releases that could set the tone for the week’s momentum.