This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 0.50 points to $1565.00 per contract. The major stock indexes seem to be holding firm despite the Italian and Spanish stock indexes selling off. Today, the FTSE MIB Index (Italy) is trading lower by 1.40 percent. For some reason investors do not seem to be worried about the third largest economy in the European Union today. Traders and investors should watch for volatility in the leading European financial stocks. Traders can track the European financial stocks by following the iShares MSCI Europe Financials Sector Index Fund (EUFN).
Last night, the Asian stock markets were mixed. The big winner last night in Asia was the Nikkei 225 Index (Japan) gaining 2.99 percent on the session. The Bombay Sensex Index (India) was biggest loser falling lower by 1.26 percent. This tells us that the Japanese ADR's could be strong today if the U.S. markets rally. On the flip side the Indian ADR's could be weak today if the U.S. markets slump throughout the session. Some leading Japanese equities that could be in play today include Toyota Motor Corp. (ADR) (TM), Sony Corp. (ADR) (SNE), and the iShares MSCI Japan Index Fund (EWJ).
Below you may find the video.