This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by just 1.50 points to 1396.75 per contract. The small decline comes as the leading European stock markets trade modestly lower. Every trader must keep a close eye on Spanish and Italian 10 year bond yields. If the yields start to spike on Spanish and Italian debt panic should creep back into this market. Today, the yield on the Spanish 10-year bond yield is higher by 0.04 to 6.85 percent. It seems that a 7.00 percent yield on Spanish debt causes the market to sell off. Keep this chart on the radar.
Last night, China reported weaker economic data. Now many investors and traders are expecting the Chinese government to implement another stimulus plan. It seems that everyone around the world is looking for easy money to inflate the stock markets. This tells us that if the U.S. Markets can rally then the Chinese ADR's could catch a small bid higher today. If the U.S. markets are weak traders should not expect much upside in the Chinese ADR's. Some leading Chinese equities that could be in play today include Baidu.com Inc. (ADR) (NASDAQ:BIDU), Sohu.com Inc. (NASDAQ:SOHU), China Mobile Ltd. (ADR) (NYSE:CHL), and the iShares FTSE/Xinhua China 25 Index (ETF) (NYSEARCA:FXI).
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Markets Hold Firm Again On Hopes Of More Stimulus
Published 08/09/2012, 09:41 AM
Updated 07/09/2023, 06:31 AM
Markets Hold Firm Again On Hopes Of More Stimulus
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