Today's S&P 500 Index e-mini futures (ES-Z2) were trading higher by 1.25 points to $1419.25 per contract. Traders and investors are trying to sort out a lot of economic data being released out of Europe and Asia. The U.S. fiscal cliff is also causing many erratic intra-day stock market moves in the major stock indexes. Traders should continue to expect intra-day volatility each and everyday as long as this fiscal cliff issue looms.
Last night, the Asian stock indexes were mixed. The big winner in Asia was the Shanghai Index (China), which finished higher by 4.34%. This huge move in the Shanghai Index could help to lift many of the leading Chinese equities that trade in the United States. Obviously, the U.S. markets would need to be strong if the Chinese ADR's are to see further upside today.
A few Chinese equities to watch, today, include China Mobile Ltd. (ADR) (CHL), SINA Corp. (SINA), Baidu.com Inc. (ADR) (BIDU) and the Market Vectors ETF Trust (PEK).