This morning, the S&P 500 Index e-mini futures (ES-H3) are trading lower by 7.00 points to $1499.50 per contract. Traders seem to be selling the stock futures ahead of the opening bell as the problems in Europe reemerge. Both, the Spanish IDEX 35 and Italian FTSE MIB Index are leading the declines in Europe by trading lower by more than 2.0 percent. There is an Italian banking scandal in Italy that could cause the former prime minister Silvio Berlusconi to regain power. Spain is also facing a possible corruption scandal and this is causing political uncertainty in the Euro-zone.
Traders should watch for early morning weakness in many of the leading European financial stocks. Stocks such as Banco Santander, S.A. (ADR) (SAN), Deutsche Bank AG (USA) (DB), National Bank of Greece (ADR) (NBG), Bank of Ireland (ADR) (IRE), and the Ishares MSCI Europe Financial Sector Index Fund (EUFN) are just a few European financial equities that could be very volatile today.
SAN, DB, NBG, RE, EUFN
Below you may find the video.