This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 8.50 points to 1646.00 per contract. It seems that there are problems brewing out of the European Union again. German unemployment rose by 21,000 in the month of May. This is the fourth straight gain in unemployment for the strongest nation in the European Union. Economists were expecting an increase in unemployment of just 5,000. Now you can see why this is such a big miss in unemployment and could be signaling major problems for the Euro-zone. If the German economy starts to decline what is really left of the Euro-zone? After all, Germany is probably the only solvent nation in the European Union.
Traders should watch the European bank stocks to be weak at the start of the trading day. Leading financial equities such as Deutsche Bank AG (DB), Banco Santander, S.A. (SAN), UBS AG (UBS), and Credit Suisse Group AG (CS) could all be weak at the start of the trading day.
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German Unemployment Rises, Major Problems For Euro-Zone?
Published 05/30/2013, 12:37 AM
Updated 07/09/2023, 06:31 AM
German Unemployment Rises, Major Problems For Euro-Zone?
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