This morning, the S&P 500 Index e-mini futures (ES-M3) are trading lower by 6.00 point to $1576.00 per contract. The dip in the futures market is being led by the weaker than expected data in China reported overnight. Chinese GDP slowed to 7.7 percent in the first quarter. This Chinese report along with all of the central bank money printing was just one of the many catalysts that triggered a decline in the leading commodity sectors. Gold, silver, copper, and oil are all trading sharply lower before the opening bell today. Could this be the first real sign of deflation, and de-leveraging to come?
Every leading metal and mining stock is trading sharply lower before the start of the trading session. Traders should expect volatility to lead stocks such as BHP Billiton Limited (ADR) (BHP), Rio Tinto plc (ADR) (RIO), Freeport-McMoRan Copper & Gold Inc (FCX), and Cliffs Natural Resources Inc (CLF).
Below you may find the video.