This morning, the S&P 500 Index e-mini futures (ES-U2) are trading higher by 2.25 points to 1343.25 per contract. The future markets seem to be holding up well despite the spike in Spanish bond yields. Earlier today, Spain auctioned off €3.04 billion in 12 and 18 month bills, however, yields soared on all maturities after the sale. Later today, the FOMC will begin a two-day meeting. Many investors are waiting to hear if the central bank will implement another round of quantitative easing. This tells us that the major stock indexes could be on hold until tomorrow afternoon when the Federal Reserve makes their statement on the economy.
Last night, most of the leading Asian stock markets finished lower on the session. The one standout was the Sensex Index (India) which finished higher by 0.92 percent. This tells us that the Indian ADR's could be strong if the U.S. markets hold up today. Some leading Indian equities that could be in play today include Tata Motors Ltd (NYSE:TTM), Infosys Ltd ADR (NASDAQ:INFY), Wipro Limited (ADR) (NYSE:WIT), and The India Fund Inc (NYSE:IFN).
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Can The Market Shrug Off The Soaring Yields On Spanish Debt Again?
Published 06/20/2012, 02:30 AM
Updated 07/09/2023, 06:31 AM
Can The Market Shrug Off The Soaring Yields On Spanish Debt Again?
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