This morning, the S&P 500 Index e-mini futures (ES-U2) were trading higher by 2.50 points to 1391.50 per contract. It seemed as if the major indexes needed to try and digest most of last week's gains.
Can It Last?
Often, after large point moves the markets will need to consolidate or rest before trying to make another surge higher. At this stage of the game, the major stock indexes have advanced on the back of central-bank pledges. Traders and investors will now want to see if those gains can hold up before buying firther into this market.
Earlier this today, bond yields on Italian and Spanish two-year debt declined again, which is helping the markets. Obviously, the European Central Bank has pledged to keep those yields down by buying bonds. We shall see how long this effort can keep the market happy.
Stocks To Watch
Some leading equities that could be volatile today include CurrencyShares Euro Trust (NYSEARCA: FXE), Banco Santander, S.A. (ADR)(NYSE: SAN), Deutsche Bank AG (USA) (NYSE: DB) and Credit Suisse Group AG (ADR) (NYSE: CS). The European markets remain fragile and could see volatility for the foreseeable future.
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Markets May Need A Breather, Watch The Dollar
Published 08/06/2012, 10:40 AM
Updated 07/09/2023, 06:31 AM
Markets May Need A Breather, Watch The Dollar
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