Monday morning, the S&P 500 index e-mini futures (ES-U2) are trading lower by 3.75 points to 1348.00 per contract. Last week, the major stock indexes ended on a high note with a 200.0 point rally in the Dow Jones Industrial Average last Friday. Often, the following trading session after a large point rally the markets will be much more subdued. Citigroup Inc (NYSE:C) reported earnings earlier today, the market seems to be reacting positive to the news with the stock trading higher by 0.69 cents to $27.34 a share before the opening bell. The big negative for the markets today remains in Europe as the IBEX 35 Index (Spain) is trading lower by 1.67 percent. The European markets remain very fragile at this time.
Last night, the leading Asian stock markets finished mixed. The important and highly followed Shanghai Index (China) finished lower by 1.74 percent. This tells us that many of the leading Chinese ADR's could be vulnerable to declines if the U.S. markets are weak. Some leading Chinese ADR's that could be volatile today include Baidu.com, Inc. (ADR) (NASDAQ:BIDU), SINA Corporation (NASDAQ:SINA), Sohu.com Inc (NASDAQ:SOHU), and the iShares FTSE/Xinhua China 25 Index (ETF).
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