Last night, the leading Asian stock markets all declined lower. The Nikkei 225 (Japan), Hang Seng Index (Hong Kong), and the important Shanghai Index (China) all declined by more than 1.00 percent. Every trader and investor in the world is now concerned that there could be a major slowdown in the region. The Chinese economy seems to be the most important as contracting growth will affect most economies around the world including the United States. Traders should watch for weakness in many of the leading Asian ADR's if the U.S. market weakens today. Leading stocks such as Sony Corp (NYSE:SNE), Canon Inc (NYSE:CAJ), and China Mobile Limited (NYSE:CHL) could be in play today.
This morning, the S&P 500 Index e-mini futures (ES-M2) are trading lower by just 1.25 points to 1387.75 per contract. The leading European stock indexes are also slightly lower today. Traders should keep an eye on the U.S. Dollar Index as the major stock indexes look to be trading inverse to the U.S. Dollar. Remember, when the dollar declines the stock markets will usually inflate and trade higher. Traders that do not have a chart of the U.S. Dollar Index can follow the PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP).
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Friday Float Or More Downside Pressure?
Published 03/25/2012, 04:33 AM
Updated 07/09/2023, 06:31 AM
Friday Float Or More Downside Pressure?
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