Thursday morning, the S&P 500 Index e-mini futures (ES-Z2) are trading higher by 4.00 points to $1393.00 per contract. The stock market futures are trying to stabilize after Wednesday's massive one day decline. Traders and investors seem to be reassessing stock market values after the reelection of President Obama. It seems that the stock market had a Governor Romney victory priced into the cake and was highly disappointed after the election results were announced.
The problems in the European Union are staring to come back into the news. First, the economic news out of Germany continued to be weaker and weaker. Friday, German exports declined for the month of September. Bond yields on Spanish debt is also moving higher on the session. Greek unemployment increased again to 25.4 percent. Earlier, the European Central Bank (ECB), and the Bank of England (BOE) both kept their key interest rate unchanged. This move by the central banks is helping to keep their currency buoyant at the moment. Traders should watch for volatility in the many of the leading European equities such as Banco Santander, S.A. (ADR) (SAN), National Bank of Greece (ADR) (NBG), Bank of Ireland (ADR) (IRE), and Deutsche Bank AG (USA) (DB). Traders should remember that all of these equities will trade inverse to the U.S. dollar.
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Markets Still Look Rattled From Wednesday's Sinkhole
Published 11/09/2012, 12:38 AM
Updated 07/09/2023, 06:31 AM
Markets Still Look Rattled From Wednesday's Sinkhole
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