Futures Rise After Australian Employment, ECB Report U.S. equity futures traded slightly higher in early pre-market trade following stronger than expected Australian employment data and also dovish comments from the ECB in its Monthly Bulletin. The ECB sees the eurozone economy stabilizing in 2013 with growth returning this year and sees inflation remaining tepid with downside risks remaining.
U.S. stock indexes printed small gains yesterday as market participants begin to focus on the two day Federal Reserve meeting. Analysts are looking for policymakers to provide further monetary stimulus – QE4? However, the Fed watchers will also be watching for any signs of deal or lack of deal concerning the fiscal cliff.
U.S. markets are coming off a meager up week with the Dow Jones and S&P 500 closes the in the green the last 3 session prior to the weekend. The NASDAQ, however, is having difficulties with its largest component Apple (AAPL, quote) continues to struggle.
Welcome to Wednesday’s Morning Coffee Break – U.S. market participants sold Tuesday’s session making it the largest one day drop since August 23 it’s also the last time the Dow Jones index has seen a 1% drop in 6 years. The NASDAQ has not seen this large of loss since June 25.
Welcome to today’s Morning Coffee Break – traders had a case of Deja vu yesterday as the U.S. markets traded similar to last week ahead of the European Central Bank (ECB) and U.S Federal Reserve meetings. U.S. futures are indicating a positive opening today with the Dow Jones fair value of 30.36, S&P 500 fair value of 2.33 and the NASDAQ’s fair value currently at 5.37.
