Stock futures positioned this morning for a stronger stock open in the U.S.
Prior to opening bell today, the DJIA futures, as well as the Nasdaq and the S&P
500 futures, were trending on positive ground. This was a pleasant surprise for
investors just one day after the primary index composites in the U.S. closed red
across the board. Index composites have been pushed lower by the global market
action this week and thus could be skewed toward the negative once again today.
The primary indices in Asia closed red across the board. The Hang Seng closed
lower by 1.78 percent. The Shanghai closed lower by 1.94 percent and the Nikkei
closed lower by 1.03 percent. The primary indices across Europe are also
currently moving below break even during their respective sessions. Turmoil
continues to apply negative pressure in the eurozone. Protestors gathered in
Greece today due to their disdain over new measures being voted on that will
allow for rescue loans to be secured. One of the contingencies of this plan is
that public workers will receive reduced pay and collective bargaining rights
will be suspended. As most can imagine, many are unhappy with this measure. The
protests are disabling for the area and as a result, business is stifled.
Indices in Europe closed out in the red. As the day approached the halfway point
in the U.S. trading session, the primary index composites were posting red
across the board as well. The DJIA was red by .47 percent at 11,450.66. The
Nasdaq was red by 1 percent at 2,577.92 and the S&P 500 was red by .38 percent
at 1,205.23. Worries in Europe continue to drag stocks in the U.S. down. Frank
Matto
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