The Greenback Will Tell Us Everything

Published 07/09/2012, 11:37 PM
Updated 07/09/2023, 06:31 AM
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This morning, the S&P 500 Index e-mini futures (ES-U2) is trading lower by 4.00 points to 1347.75 per contract. Traders and investors are now focusing on Spanish debt yields which jumped over 7.0 percent on the 10-year bond earlier today. This number seems to be problematic for the global stock markets. Later today, European finance ministers are scheduled to hold a meeting to try and find some solutions to the current crisis.

Last night, the Asian markets sold off across the board. The Shanghai Index (China) was the biggest loser declining lower by 2.38 percent. This tells us that the Chinese ADR's could be under pressure if the U.S. markets are weak. Some leading Chinese equities that could be volatile today include Baidu Inc (NASDAQ:BIDU), Sina Corp (NASDAQ:SINA), Sohu.com Inc (NASDAQ:SOHU), and the iShares Trust FTSE China 25 Index (NYSEARCA:FXI).

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