Reply To: Traders Market Weekly: War Dance Drum Beat of Hostilities

#33841
Truman
Participant

abilize overnight

The global equity markets seem to have found stable ground. If nothing else, the brakes were tapped on the selling as US futures found support early in the session. S&P Futures are up about 20 points to trade around the 4395 level. The 4370 area held as a support zone a couple of times with the low print established at 4368.25. The high resides as 4411.50.

In Asia, China rose 0.7% while Japan slid 0.4%. The Shanghai was led higher by property stocks which caught a bid after many cities eased mortgage restrictions for home purchasers. In Japan, the Nikkei fell under pressure with technology pacing the way. Semiconductors were a major culprit with the likes of Tokyo Electron and Advantest dropping 1-2%.

In Europe, the major bourses are mildly firmer. These markets managed to stave off the wave of selling that US stocks saw Thursday afternoon. Corporate earnings remained in focus. Allianz is down about 2% after reporting a significant pre-tax hit to its fourth quarter results. NatWest Group is off by over 3% after providing a cautious outlook. Bayer is among the bright spots, rising 2% after raising its forecast for Nubeqa sales.