Reply To: Traders Market Weekly: MAR19-25 — Some Sheep may be Sheared

#34858
Truman
Participant

The global equity markets are mixed heading into the close of the week. S&P Futures are trading around the flat line near the 4512 area. The market has lacked direction as it’s traded back and forth across the neutral zone several times throughout the session. The range saw a high of 4527.25 and a low of 4500.25.

In Asia, China dropped over 1% while Japan rose marginally. The Shanghai saw a tight range for the first couple hours but sellers took control thereafter with the technology sector leading the way lower. In Japan, the Nikkei’s winning streak extended to nine and is the longest since September 2019. Metals and Mining were among the best performers with stocks such as Pacific Metals and Sumitomo Metal Mining rising 3-6%.

In Europe, the major bourses are lacking luster. German IFO offered a mixed read with two out of the three components missing expectations. The UK consumer picture took a step back in February with Core Retail Sales falling 0.7% while analysts expected an increase of 0.5%.