It is now official, Spain will be asking for aid this weekend as the banking sector in the troubled country continues to struggle. This event is certainly weighing on the S&P 500 Index e-mini futures (ES-M2) which are trading lower by 3.50 points to 1313.25 per contract. The IBEX 35 Index (Spain) is actually trading higher by 1.18 percent on the news. It is still amazing how all of the attention is on Spain despite the Greece crisis still not being resolved. Italy, Portugal, Belgium, Ireland, and even France could be the next country to be in focus very soon. The domino effect is certainly in place for more problems in the European Union.
Today, the CurrencyShares Euro Trust (NYSEARCA:FXE) is trading lower by $1.01 to $123.99 a share. Some other equities that are likely to be volatile today include Banco Santander S.A. (ADR) (NYSE:STD), National Bank of Greece (ADR) (NYSE:NBG), and the Bank of Ireland (ADR) (NYSE:IRE). Lately, the markets have been weak going into the close of the session on a Friday. Rarely do traders and investors want to hold stock over the weekend.