This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by 1.00 point to 1412.00 per contract. The stock market futures seem to be flat as the IBEX 35 (Spain), and FTSE MIB (Italy) markets rally today in Europe. Yesterday, German Chancellor Angela Merkel said that she was on board with Mario Draghi and the European Central Bank. That news pulled the markets out of its sideways light volume trading range.
Today, is options expiration and that tells us that the trading volume will likely stall out after the first ninety minutes. This week has already been one of the lightest volume trading weeks on record in recent times. Some stocks that could be in play today include the European banks. Stocks such as Banco Santander, S.A. (ADR) (NYSE:SAN), Deutsche Bank AG (USA) (NYSE:DB),Bank of Ireland (ADR) (NYSE:IRE), and the National Bank of Greece (ADR) (NYSE:NBG). All eyes should still be on the U.S. Dollar Index as most stocks continue to trading inverse to the U.S. Dollar.
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