Tuesday morning, the S&P 500 Index e-mini futures (ES-Z2) traded higher by 1.00 point to $1383.50 per contract. It is important to note that the U.S. Dollar Index is trading flat ahead of the opening bell as well. In order for the stock markets to advance and trade higher we usually need to see the U.S. Dollar Index decline just as it did Monday. This tells us that the U.S. Dollar Index chart is still the most important chart that any trader or investor can follow.
Last night, the the credit rating agency Moody's downgraded the credit rating of France from AAA to AA1, the outlook for the country remains negative. This downgrade news could affect many of the leading European bank stocks. Some leading European financial equities that could be volatile today include Deutsche Bank AG (DB), Credit Suisse Group AG (ADR) (CS), UBS AG (USA) (UBS), and the Ishares MSCI Europe Financials Sector Index Fund (EUFN).
Below you may find the video.