| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3812 Registered: 05-2011 Rating: N/A |
World markets still on shaky ground The global equity markets are under modest pressure to start the day. S&P Futures are down 10 points to trade around the 4650 area. Spoos traded in a fairly narrow range throughout most of the Asian session. The market posted the high of 4676.75 shortly after Europe opened. The S&P took a step lower shortly after and is currently trading just off the low of 4640.50. In Asia, both China and Japan gave back the prior day's gains. The Shanghai suffered from a downgrade in sentiment after its manufacturing province of Zhejiang suspended many business operations due to rising COVID-19 cases. In Japan, the Nikkei saw weakness in semiconductors and travel names. In the chip space, Tokyo Electron and Advantest dropped nearly 2%. Airliners such as ANA Holdings and Japan Air lost nearly 3%. In Europe, the major bourses started stronger but have retreated back toward the neutral zone. The FTSE is among the few markets around the world in positive territory. This may be attributed to a decent set of employment data that saw the jobless rate fall to 4.2%. Markets may be falling into a haze with several key central banks set to provide updates later this week. |