Today is another relatively quite day in the markets. There are no big headlines driving stocks up or down. Accordingly, global stock markets are mostly trading sideways in the pre-market.
The bright spot in global equities was Asia. Most of the Asian indeces are playing catch up with the US and Europe this week.
That’s why they’re marginally higher today.
- The Shanghai Composite Index is up 0.44%;
- The NIKKEI 500 Index gained 0.24%;
- Hong Kong’s Hang Seng Index fell marginally by 0.02%;
- South Korea’s KOSPI Index is up 0.37%;
- India’s SENSEX was Asia’s strongest performer with a 0.71% gain.
Europe has gotten off to a weaker start than Asia. Indeed, most of the stock indeces are trading sideways and searching for direction.
- London’s FTSE is flat;
- The French CAC 40 Index is up 0.23%;
- The German DAX Index is down 0.04%.
The biggest mover in emerging Europe was Turkey’s BIST 100 Index. It is down an eye-watering 2.46%.
Investors were dissapointed with the appointment of the new cabinet members. Of particular note was the fact that President Erdogan appointed his son-in-law as finance minister.
Equally important is the fact that President Erdogan is pushing through measure to limit the independence of the Turkish central bank.
Over in the United States, futures are up slightly in pre-market trading. The S&P 500 and NASDAQ are sporting gains of around 0.05% and 0.16%, respectively.
Investors are shiftig gears and getting ready for earnings season. Expectations are high for earnings. Indeed, analysts expect technology and energy shares to do particularly well.