Pre-market Update: US Futures Trade Sideways Heading Into Weekend

Friday looks to be a relatively quiet day for the US stock market as there isn’t much in the way of big news.  Investors have seemingly digested higher interest rates by the Fed.

Over in Europe, the Italian government set a wider budget deficit than some investors had anticipated. The euro slipped along with European stocks.  The bonds of stronger European countries like Germany strengthened in a sign of distress.

Meanwhile, Asian shares strengthened despite US rate hikes and European weakness.  A couple of the notable moves across Asia today:

  • Japan’s NIKKEI 500 Index jumped 1.11%;
  • The Shanghai Composite Index is rose 1.06%;
  • Hong Kong’s Hang Seng Index gained 0.26%;
  • South Korea’s KOSPI Index is down 0.52%;
  • India’s SENSEX Index fell 0.63%.

European stock markets are lower at the open today due to Italy.  A look at some of Europe’s top indices shows:

  • London’s FTSE Index is down 0.15%
  • The German DAX Index is down 0.71%;
  • The FTSE Italia All Shares Index tumbled 2.82%;
  • The French CAC 40 Index fell 0.32%  at the open.

European stock markets will continue to focus on issues within their own markets such as the Brexit negotiations and the Turkish Lira Crisis.  Additionally, European investors are keeping a close eye on developments in Italy as investors have become fearful of potential anti-EU measures by the new government.

US Futures Are Trading Sideways in Pre-Market Action

The U.S. stock market is not moving strongly in either direction in pre-market trading.   The NASDAQ and the S&P 500 futures are down 0.09% and 0.12%, respectively.

Investors will continue to take their cues from the news cycle heading.  Accordingly, any new developments in the Trump legal morass or global trade disputes could see it drive markets in either direction.

See more of our analysis here.

 

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Al Basoglu

I am a financial services professional with over a decade of experience in various roles. I've lived and worked abroad in 5 different countries while pursuing personal and professional challenges. My interests include markets, history and different cultures. I tend to weave all of my interest into my analysis and articles.