Indexes mixed ahead of ECB meeting
Evan McDaniel | email@example.com
U.S. and European stock indexes are mixed ahead of tomorrow's European Central Bank meeting as global growth concerns persist.
S&P 500 futures are off 1.90 points to 1402.50 after trading as low as 1397.50 overnight. Nasdaq 100 contracts are lower by 7.75 points to 2766.75 at the time of this writing.
In Europe, the U.K. FTSE 100 is down 0.42 percent but the German DAX is up 0.31 percent. The euro/dollar is lower by 0.1 percent to 1.256 after economic data from China and Australia indicated that growth is slowing further.
Asian indexes closed lower, led by a 1.47 drop in Hong Kong's Hang Seng and a 1.09 percent decline in Japan's Nikkei 225. The Australian dollar/Japanese yen cross trade, which is highly correlated to equity indexes, is lower by 0.5 percent to 79.87 after hitting a two-month low.
Commodity markets are exectedly lower, with crude oil futures down 0.28 points, or 0.29 percent, to 95 even. Spot gold prices are off 3.30 points, or 0.19 percent, to 1692.50 after trading as low as 1689.60. Copper prices are off 0.1 percent to 3.4655.
In company-specific news, FedEx is down 2.9 percent in pre-market trading after projecting its first quarterly earnings decline in more than two years. Facebook is up about 2.8 percent after CEO Mark Zuckerberg said he does not plan to sell any shares for more than a year.
Stocks attempt to stage a rebound
May 17, 2013
The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.
Equities are hovering at record levels
May 16, 2013
S&P 500 futures are indicated to open fractionally lower but have been nudging higher throughout the morning. The Nasdaq is up almost two-tenths of a percent after strong numbers from Cisco.
Equities in range after big gains
May 15, 2013
S&P 500 futures are little-changed, while most European indexes are posting small gains. Asian markets were mostly positive overnight, led by a 2 percent rally in Tokyo.
Wide range of events on calendar
May 15, 2013
German, France, and Italy will report preliminary gross domestic product numbers early in the morning, which could affect sentiment before the opening bell.
Another record day on Wall Street?
May 14, 2013
S&P 500 futures are fractionally higher after earlier falling by more than one-tenth of a percent. Europe is also fighting its way back to positive after posting slightly larger declines.