This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 6.00 points to 1654.00 per contract. Over the past few years the Friday trading session has usually been beneficial for the stocks. Rarely, will the major stock indexes decline before the weekend. After all, if this money printing by the central banks is going to work for a while it will need consumers to spend money. Just think about it, if the average person watches the evening news and sees the Dow Jones Industrial Average closing down by 100.0 points before the weekend they may not want to go out and spend money. Consumer spending is what keeps this system running. So today, traders should look for a flat to slightly positive trading day by the close.
Last night, the leading Asian stock indexes finished higher on the session. The Shanghai Index (China) was the big winner closing higher by 1.39 percent. The Chinese Premier Li Keqiang has promised to reduce the role of the government in the Chinese economy. This could put a bid in some of the base and industrial metal stocks today. Stocks such as Freeport-McMoRan Copper & Gold Inc. (FCX), Rio Tinto PLC ADR (RIO), and BHP Billiton Ltd. (ADR) (BHP) should be followed closely. The iShares Trust FTSE China 25 Index Fund (FXI) could also be strong at the start of the day.
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Will The Friday Effect Save The Day?
Published 05/17/2013, 03:04 PM
Updated 07/09/2023, 06:31 AM
Will The Friday Effect Save The Day?
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