The global equity markets are mixed in thin holiday action. After closing at the low on Friday, the S&P Futures are up about 20 points to trade around the 4148 area. With many of the overseas markets closed, spoos have traded within a range that saw a high at 4158.25 and the low established at 4116.75.
In Asia, Chinese markets were closed for public holiday while Japan slid 0.1%. China released disappointing Manufacturing PMI data on Saturday. The April print came in at 47.4. This was below the consensus of 48.0 and marked the lowest reading since February 2020. In Japan, the Nikkei traded in lackluster fashion. Nintendo lost over 2% after stating it saw less than anticipated Switch console sales for the fiscal year.
In Europe, the DAX and CAC are lower, while the UK is closed for holiday. Part of the weakness likely stems from sympathy with Wall Street’s move on Friday. Additionally, the weaker than expected Chinese data may be taking its toll on these markets. The region saw modest upward revisions to the final Manufacturing PMI readings in Germany, France and the Eurozone. On the flip side, Germany also reported a miss in March Retail Sales.