Stock Euphoria Prevails Despite Gathering G-7, EM Clouds; Dollar Slides

European stocks and U.S. futures blasted off higher early in the session following yesterday's euphoric, meltup close to US trading, but have since pared their gains on Thursday as the stellar rally in tech shares showed signs of easing, amid growing concerns about a potential G-7 meeting fiasco, as well as growing emerging markets clouds, where after the recent turmoil in Turkey and Argentina, all eyes are now on Brazil (and India) to see if the contagion spreads to these behemoths.