This morning, all of the European markets came under selling pressure with the IBEX 35 (Spain) declining lower by 3.50 percent. This fall in Europe is causing the U.S. Dollar Index to strengthen. As many of you know by now, a stronger dollar usually results in a weaker and deflated stock market in the United States ahead of the opening bell. Today, the S&P 500 Index e-mini futures (DX-M2) are declining lower by 11.50 points to 1347.00 per contract. Traders and investors must once again follow the U.S. Dollar Index (DX-M2) very closely as the major stock indexes around the world continue to trade inverse to the dollar.
Last night, all of the leading Asian stock markets traded lower. The important Shanghai Index (China) declined by 1.65%, this tells us that the leading Chinese ADR's could be weak at the start of the trading day. Some leading Chinese ADR's that could be volatile today include Baidu Inc (NASDAQ:BIDU), China Mobil Ltd (NYSE:CHL), Sina Corp (NASDAQ:SINA), and Youku Inc (NYSE:YOKU).
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Spain In Pain Brings Markets Downtown Charlie Brown
Published 05/09/2012, 09:29 AM
Updated 07/09/2023, 06:31 AM
Spain In Pain Brings Markets Downtown Charlie Brown
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