| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3918 Registered: 05-2011 Posted From: 179.48.248.30 Rating: N/A |
World markets struggle to find direction The global equity markets are mixed, however US futures and European indices are little changed. S&P Futures are up about three points to trade around the 4720 area. The market saw modest weakness early on. The 4705 area stood strong as support with several tests of the area. The ultimate low print of 4702.50 was established early in the Asian session. Spoos are currently sitting just off the high of 4722.25. In Asia, both China and Japan closed the day down about 1%. The sentiment in the Shanghai shifted to a negative tone with the state mulling further lock downs ahead of the Olympics next month. In Japan, the Nikkei gave back half the prior day's gains. Metals and mining names were stand outs on Thursday. This sector touted stocks such as Nippon Steel, JFE Holdings and Pacific Metals gaining 4-6%. In Europe, the major bourses are doing little in the early stage of trading. Auto makers are showing relative strength with the likes of Renault, Stellantis and BMW up 1-3%. Semiconductors are also among the best sectors with chip makers such as STMicroelectronics and Infineon up 2-3%. |