Reply To: Traders Market Weekly: Bear Jitters as Risk Factors Deepen

#36941
TradersCom
Keymaster

The global equity markets are off to a muted start. S&P Futures are down about 10 points to trade around the 4075 area. After closing near the session high on Tuesday, the market has trickled back in the overnight trade. The high print was set early at 4095.00. Modest selling culminated with the low at 4064.50 before settling back to the current level.

In Asia, China slid 0.3% while Japan added 0.9%. The Shanghai Composite never strayed far from the neutral zone, providing a lackluster day that lacked major economic data. In Japan, the Nikkei marked a fourth straight day of gains. First Quarter GDP contracted less than expected at -1.0%. This compared favorably to the forecast of -1.8%. Steel names were among the leaders with Japan Steel Works and Kobe Steel finishing up 4-5%.

In Europe, the major bourses lack direction. Automakers are representing relative strength with BMW, Volkswagen and Stellantis up about 1%. Energy names continue to push higher with BP and Shell gaining 1-2%.