This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 3.00 points to $1562.25 per contract. Investors seem to be holding the markets steady ahead of the opening bell. Apparently, the problems in Europe are fixed as the the major European stock indexes trade higher on the day. Alcoa Inc (NYSE:AA) kicked off earnings season yesterday after the closing bell. This stock does not move the markets any longer so traders will most likely have to wait until later in the week when the large bank stocks report their earnings.
Last night, the major Asian stock indexes were mixed. The Bombay Sensex Index (India) was the biggest loser closing lower by 1.15 percent. This tells us that Indian ADR's could be weak if the U.S. stock markets come under some selling pressure. Some leading Indian related equities that traders can follow today include India Fund Inc (IFN), Tata Motors Ltd. (ADR) (TTM), Infosys Ltd. (ADR) (INFY), and Wipro Ltd. (ADR) (WIP). If the U.S. markets hold up and trade higher today then traders should not expect much volatility in the Indian related equities.
Below you may find the video.