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The Easy Money Bounce Lives On

ByNicholas Santiago
Published 02/28/2013, 12:13 PM
Updated 07/09/2023, 06:31 AM

This morning, the S&P 500 Index e-mini futures (ES-H3) are trading higher by 1.25 points to $1517.25 per contract. The markets are holding up well after yesterday's big stock market rally. There is a lot of economic news that has been released before the opening bell, however the stock market futures seem to be unaffected. This tells us that the markets are simply moving off of the fact that money printing by the central banks is all that matters. This type of easy money market action is also evident in Europe, and Asia.

Last night, most of the Asian stock indexes soared sharply higher. The Nikkei 225 Index (Japan) was the big winner finished higher by 2.71 percent. The Hang Seng (Hong Kong) and Shanghai Index (China) also closed higher by 2.00 percent. The one major stock index that lost ground last night was the Bombay Sensex Index (India) ending lower by 1.52 percent. This tells us that the Indian ADR's could be under pressure today if the U.S. markets are weak. Some leading Indian ADR's that could be volatile today include Tata Motors Limited (ADR) (TTM), Infosys Ltd ADR (INFY), Wipro Limited (ADR) (WIT), and the India Fund Inc. (IFN).

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