This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 3.00 points to 1610.75 per contract. It has been a very volatile morning in the stocks market. Earlier today, the ECB and the Bank of England both left there benchmark interest rate unchanged. German Manufacturing declined by 2.8 percent in April, this is showing how weak the European economy is getting. Initial weekly jobless claims were the one bright spot for the economy as claims fell by 11,000 to 346,000 new claims.
Last night, all of the leading Asian stock indexes finished lower. The Nikkei 225 Index (Japan) finished lower by 0.85 percent and below the psychological 13,000.00 level. The important Shanghai Index (China) also finished down 1.27 percent on the session. This tells us that all Asian ADRs could be weak today if the U.S. markets decline. Traders should watch for volatility in the iShares MSCI Japan Index (EWJ), Market Vectors China ETF (PEK), iShares FTSE China 25 Index Fund (FXI), and the WisdomTree Japan Hedged Equity (DXJ).
Below you may find the video.