Tuesday morning, the S&P 500 Index e-mini futures (ES-Z2) traded lower by 0.75 points to $1402.50 per contract. The stock futures seemed to hold steady before the opening bell. The catalyst for the buoyant stock action is once again the falling U.S. dollar. You see, when the U.S. Dollar Index futures (DX-Z2) decline the major stock indexes will inflate and trade higher, therefore the U.S. Dollar Index chart should be followed very closely. Earlier yesterday, another Greek bailout deal was announced. Greece will receive 44 billion euros in three tranches. This helped the European stock indexes trade slightly higher.
Monday night, the major Asian stock indexes finished mixed. The important and highly followed Shanghai Index (China) declined lower by 1.31 percent. This tells us that the Chinese ADR's could be weak if the U.S. markets decline and trade lower. The big winner in Asia was the Sensex Index (India) closing higher by 1.65 percent.
If the U.S. markets are weak then traders should not expect much upside in the Indian ADRs. Some Indian ADRs that might be in play include Infosys Ltd ADR (NFY), Wipro Limited (ADR) (WIT), Tata Motors Limited (ADR) (TTM), and The India Fund Inc (IFN).
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Greece, China, And Durable Goods Equal Flat Open For Markets
Published 11/28/2012, 12:35 AM
Updated 07/09/2023, 06:31 AM
Greece, China, And Durable Goods Equal Flat Open For Markets
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