This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by just 0.50 points to 1678.00 per contract. Traders and investors are talking about the corporate earnings that are being released, but the real story is the central bank liquidity that is being pumped into the stock market. Traders will want to keep an eye on the Japanese Yen carry trade. Simply put, if the CurrencyShares Japanese Yen Trust (FXY) increases in price this could put pressure on the major stock indexes.
Last night, the leading Asian stock markets were mixed. The important and highly followed Bombay Sensex Index (India) finished lower by 0.91 percent. This tells us that the leading Indian related equities could come under some pressure if the U.S. markets are weak. Some leading Indian ADR's that could be volatile today include Wipro Limited (ADR) (WIT), Infosys Ltd ADR (INFY), Tata Motors Limited (ADR) (TTM), and the India Fund, Inc. (IFN).
Below you may find the video.