This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by 1.00 point to 1414.25 per contract. The small decline in the stock futures come as the European Central Bank (ECB) denied reports that they will cap sovereign bond yields at predetermined levels for struggling European countries. That story was released over the weekend and today we now know that report is false. The stock markets does not seem to be worried or panicked by the news. Generally, on Monday's the trading volume will be very light and today should be no exception. Some equities that could be volatile today include CurrencyShares Euro Trust (NYSEARCA:FXE), Banco Santander, S.A. (ADR) (NYSE:SAN), Bank of Ireland (ADR) (NYSE:IRE), and the National Bank of Greece (ADR) (NYSE:NBG). All of the European markets are trading flat today.
Last night, most of the leading Asian stock markets were mixed. The one stock index that remains weak is the Shanghai Index (China). Traders must continue to remember that the Shanghai Index was the growth engine of the world for the past ten years. If this important and leading stock index continues to decline it is usually signaling a global slowdown is occurring.
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