European markets are set to open flat today. Apple (AAPL) missed the revenue mark yesterday and then fell more than ten percent below $500 a share in late trading yesterday. Investors will be eying the damage to the broader technology sector today.
The CAC is down 2 points, the FTSE is down 3 points and the German DAX is down 1 point, at the time of this report.
The International Monetary Fund (IMF) has stated that the persistent recession in the Euro zone will not be helpful towards global growth in 2013. World output is expected at 3.5 percent in 2013. This is down from October’s prediction of 3.6 percent. The IMF has lowered Germany’s growth expectations from 0.9 to 0.6 percent. The Italian economy is expected to contract by 1 percent. This is up from an earlier forecast of 0.7 percent.
Today, in Europe, expect flash PMI numbers from France, German and the EU. On Thursday, Spain will release its employment numbers for the quarter. The last numbers showed a jobless rate near 25 percent.
Disclosure: The above is for informational purposes only and not to be construed as specific trading advice. Responsibility for trade decisions is solely with the reader.