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Weak Start For Stocks, Watch The Dollar

Published 07/12/2012, 10:03 AM
Updated 07/09/2023, 06:31 AM
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This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by 9.25 points to 1327.00 per contract. The drop in the futures market reflects the problems in the European markets. Today, all of the European markets are trading lower with Italy and Spain leading the declines. Greek unemployment climbed again, however, does anyone even talk about Greece anymore? Earlier today, Germany auctioned off two year notes at a negative yield. This is just a sign of the times that the world is in when it comes to debt and safe havens. The U.S. Dollar Index should be watched closely as the major stock indexes continue to trade inverse to the U.S. Dollar.

Last night, most of the major Asian stock indexes finished lower. Traders should watch for weakness in all of the Asian ADR's today if the U.S. markets are lower. Some Asian ADR's that will likely be volatile today include Infosys Ltd ADR (NASDAQ:INFY), Tata Motors Limited (ADR) (NYSE:TTM), Baidu.com, Inc. (ADR) (NASDAQ:BIDU), and SINA Corporation (USA)(NASDAQ:SINA).

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