This morning, the S&P 500 Index e-mini futures (ES-M3) are trading higher by 9.00 points to $1586.25 per contract. It seems that most of yesterday's sharp sell off is being erased before the opening bell. What is the catalyst for the sharp rebound in the stock futures? Maybe, it is the ECB rate cut by Mario Draghi and the European Central Bank from 0.75 to 0.50 basis points. Perhaps it is the economic data released at 8:30 am Est which showed the weekly jobless claims number at 324,000 which is the lowest weekly number since January 2008. Then again, maybe the market moving institutions are just anticipating more money printing by the central banks.
Last night, the leading Asian markets were mixed. The big winner last night was the Bombay Sensex Index (India) closing higher by 1.19 percent. This tells us that the Indian ADR's could be strong at the start of the trading session. Leading stocks such as Tata Motors Ltd. (ADR) (TTM), Infosys Ltd. (ADR) (INFY), Wipro Ltd. ADR (WIT), and the India Fund Inc (IFN) could all be in play today.
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Markets Pop Right Back Up: What You Should Know
Published 05/03/2013, 12:19 AM
Updated 07/09/2023, 06:31 AM
Markets Pop Right Back Up: What You Should Know
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