| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3292 Registered: 05-2011 Rating: N/A |
Tuesday Market Update: 1. The global equity markets are mixed. US futures have seen a modest pullback from yesterday's strong showing. The weakness began right out of the gate and continued through the Asian session. The markets appear to be stabilizing, with futures rising in tandem with Europe. S&P Futures are currently trading about 15 points lower to around the 3885 area. This is around the middle of the range that saw a high of 3906.50 and a low of 3866.25. 2. In Asia, the major markets saw weakness across the board. Sentiment in China was soured by comments from the state's main banking regulator suggesting caution regarding asset bubbles in financial markets. The Shanghai slipped over 1% in response. In Japan, the Nikkei gave back nearly half of Monday's 2% gain. The selling was broad-based and may have been some profit taking. Markets were unaffected by Japan's slightly better than expected Unemployment Rate for January, which came in at 2.9%. 3. In Europe, the major bourses are edging higher. Crude oil's reversal from the $63 area on Monday has put pressure on the energy space. Heavyweights such as BP, Royal Dutch Shell and Total are trading 1-2% lower, across the pond. |