Welcome to the today’s Afternoon Brief- Four hours into the U.S. session equities continue to climb after Spain released its 2013 budget. According to a release from Deputy Prime Minister the budget will focus on spending cuts and not raise taxes.
The Euro continues to be under pressure for the 9th straight session. As headlines hit the wires about Greece and Spain market participants look to move away from the risk appetite assets send money flowing out of the Euro and into the U.S. dollar. Playing the move Euro move
Welcome to Thursday’s Morning Coffee Break – U.S. markets struggled the first 3 sessions of the week as its on pace for the largest weekly move in 4 months. However, in today’s pre-market U.S. futures are pointing to bounce higher at the open as traders approached not only end of the week but the end of the 3rd quarter.
The Euro continues to be under pressure for the 8th straight session. As headlines hit the wires about Greece and Spain market participants look to move away from the risk appetite assets send money flowing out of the Euro and into the U.S. dollar. Playing the move Euro move
The USD/CAD moved lower today on mixed Canadian economic data and imminent Spanish bailout sent traders fleeing the U.S. dollar into the Lonnie.
Crude oil continue to moved lower in today’s session on fear of global economic growth and worries about Spanish debt crisis spinning out of control. Energy traders as well traders of growth commodities became cautious on Monday when Federal Reserve Bank of New York index was reported to have fallen to -10.4 for the month of September hitting a 3 year low. The previous months reading was -5.8 with analysts’
Can U.S. markets move higher after a broad sell off Monday? Two weeks ago trader overcame the broad sell off but future’s today look basically flat in pre-markets with implied opens for Dow Jones at 13.34, S&P 500 0.03 and the NASDAQ at 2.26 as of 8:40 a.m. ET.
All 3 U.S. stock indexes are pointing to a higher open as investors focus on the FOMC meeting and domestic issues facing U.S. economy. The question of the day is “what will the Fed do?”
Markets closed mixed on the first day post Greek elections. Since the bailout party appears to be able to form a government markets are now looking to next shoe to drop as the Spain debt yield has moved to 7% during today’s bond action.
U.S. traders are coming off the best week thus far in 2012. The EU announcement of a plan to bailout Spanish banks is helping to continue the market drive into the start of the new trading week.
You must be logged in to post a comment.