Reply To: Traders Market Weekly: Avoid Whiplash, Fasten Your Seatbelts

#33600
Truman
Participant

The global equity markets are mostly lower. Thursday’s slide on Wall Street has abetted the moves across the equity landscape. S&P Futures are down about 22 points to trade around the 4475 area.

The market saw modest pressure but stabilized at the low of 4454.50. The push higher culminated at 4498.00 before settling back to the current level.

In Asia, China gave back 0.7% while Japan was closed. The Shanghai traded in a narrow range for the first part of the day but sellers took control after the lunch break. As such, the Chinese benchmark closed just off the session low. In Japan, the Nikkei was closed in honor of National Foundation Day.

In Europe, the major bourses are echoing the tone seen in the US. Technology stocks are pacing the way to the downside with names such as Infineon Technologies and ASM International down 2-3%. British American Tobacco is bucking the overall trend with a gain of nearly 1% following better than expected fiscal year results. The company also authorized a new share buyback program.