Reply To: Traders Market Weekly: Two Tribes Go to War


Overnight Summary — World markets set the stage for rebound

The global equity markets are mostly higher. S&P Futures are up about 30 points to trade around the 4330 area. The futures market opened higher and has remained in positive territory throughout. The spoos have witnessed a range that saw a low of 4309.00 and a high of 4345.50.

In Asia, China popped nearly 1% while Japan was closed for public holiday. The Shanghai took back nearly all of the prior day’s losses with the rise on Wednesday. The Chinese benchmark held firm for the duration of the session and managed to close at the day’s high. Japanese markets were closed in honor the Emperor’s Birthday.

In Europe, the major bourses are gaining ground. Eurozone inflation cooled off in January. The Core CPI showed a decline of 0.9%, even lower than the forecast of a drop of 0.8%. Investors are shrugging off weaker than expected German Consumer Climate data. Corporate earnings remained relevant in traders’ minds. Names such as Stellantis, Barclays and Danone are trading 3-5% better after releasing their respective fiscal year reports.