Wednesday morning, the S&P 500 Index e-mini futures (ES-Z2) traded lower by 11.00 points to $1414.25 per contract. This decline in the stock futures erases all of today's gains. Most traders should not be surprised by the dip in the stock market before the opening bell. Usually, when a democrat wins the presidential election the stock markets will decline initially. Ironically, the stock market has risen more under Democratic leadership than Republican leadership, but that is still open for debate. Central banks are the real reason why markets inflate and deflate, therefore, presidents get too much credit and blame for the economy.
The European markets also traded on the weaker side yesterday. The European Central Bank President Mario Draghi has said that the data suggests the economic slowdown has reached Germany. Recently, economic data out of Germany has been weaker than expectations.
Greece is also facing another austerity vote. How many votes will Greece have in their bid to remain part of the European Union? Traders should watch for early morning weakness in the iShares MSCI Italy Index (ETF) (EWI), iShares MSCI Spain Index (ETF) (EWP), iShares MSCI France Index (ETF) (EWQ), and the iShares MSCI Germany Index Fund (ETF) (EWG). Traders should remember, as long as the U.S. Dollar Index remains strong all of the major stock indexes should be weak today.
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Elections Are Over, Now Let Us Get Back To Trading
Published 11/07/2012, 02:04 PM
Updated 07/09/2023, 06:31 AM
Elections Are Over, Now Let Us Get Back To Trading
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Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
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