This morning, the S&P 500 Index e-mini futures (ES-H3) are trading lower by 2.50 points to $1455.25 per contract. It seems that some profit taking is coming into the market before the opening bell. It looks as if round two has begun between the politicians. Senate Minority Leader Mitch McConnell said that Republicans would negotiate over spending cuts, but the tax and revenue issues are "behind us." President Obama has said that he will not debate the raising of the debt ceiling so things are once again going to be interesting over the next two months in Washington.
Many of the leading European financial stocks are trading higher before the opening bell in the United States. It seems that banks won the delay to fully meet the so-called liquidity coverage ratio. Leading European financial equities such as Deutsche Bank AG (USA) (DB), Credit Suisse Group AG (ADR) (CS), UBS AG (USA) (UBS), and the Ishares MSCI Europe Fincls Sector Index Fund (EUFN) are all likely to be higher at the start of the trading day.
Below you may find the video.