This morning, the S&P 500 Index e-mini futures (ES-Z2) are trading higher by 7.50 points to $1414.50 per contract. Once again, the catalyst for the rise in stocks is the falling U.S. Dollar Index. The U.S. Dollar is declining on speculation that the Federal Reserve (U.S. central bank) will buy more U.S. Treasuries after the end of the year. As all of you know by now, when the U.S. Dollar drops the stock markets pop and vice versa. All traders should and must keep a close eye on the U.S. Dollar Index chart at all times.
Last night, most of the Asian stock indexes were higher. The Shanghai Index (China) was the lone index that closed lower by 0.51 percent. The big winner was the BSE Sensex (India) finishing higher by 1.75 percent. This tells us that the Indian ADR's could be in play today if the U.S. markets are strong.
If the U.S. markets are weak then traders should not expect much upside from the Indian ADR's. Some leading Indian equities that could be in play today include ICICI Bank Limited (ADR)(IBN), Cognizant Technology Solutions Corp (CTSH), HDFC Bank Limited (ADR) (HDB), Infosys Ltd ADR (INFY), and Tata Motors Limited (ADR) (TTM).
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When The Greenback Slumps The Markets Jump
Published 11/29/2012, 12:47 AM
Updated 07/09/2023, 06:31 AM
When The Greenback Slumps The Markets Jump
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