This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 4.25 points to $1567.50 per contract. It seems that the worlds' problems are solved once again. Investors and traders are eagerly awaiting the FOMC minutes that will be released at 9:00 am EST. The minutes are basically a summary of what was discussed at the last Federal Open Market Committee (FOMC) meeting. These minutes are not an exact transcript of the meeting, they are are just a summary of what the central bank wants released to the public. Obviously, the market moving institutions are expecting the central bank to say that they will continue to print money that support higher stock prices. If there is any hint of central bank tightening in the near term then traders should expect a negative reaction to occur.
All of the major European markets are trading higher today. The Spanish IBEX 35 is leading the European stock indexes trading higher by 2.36 percent. Traders should watch for early strength in many of the European stock indexes such as the iShares MSCI Italy Index (ETF) (EWI), iShares MSCI Spain Capped Index Fund (EWP), iShares MSCI France Index (ETF) (EWQ), and the iShares MSCI Germany Index Fund (ETF).
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