Stock futures are moving higher today after yesterday’s rebound. Moreover, this rally has a broad global footing as Asian shares closed the day much higher and European shares have opened broadly higher. The broad nature of this rally implies that the recent bout of weakness in the stock market is likely coming to an end.
Investors are likely anticipating a year-end rally similar to the ones that have occurred over the last couple of years. This year-end rally could get support from robust earnings this year.
A couple of the notable moves across Asia today:
- Japan’s NIKKEI 500 Index jumped 2.59%;
- The Shanghai Composite Index gained 1.35%;
- Hong Kong’s Hang Seng Index is up 1.60%;
- South Korea’s KOSPI Index moved 0.74% higher;
- India’s SENSEX traded rose 1.55%;
European stock markets are also up in early trading. A look at some of Europe’s top indices shows:
- London’s FTSE Index is up 1.21%;
- The German DAX Index gained 1.03%;
- The FTSE Italia All Shares Index gained 0.30%;
- The French CAC 40 Index is up 1.90% 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 Higher in Pre-Market Action
The U.S. stock market is moving up in pre-market trading as investors continue to bargain hunt. Specifically, the NASDAQ and the S&P 500 futures are up 0.90% and 0.50%, respectively.
Finally, investors will continue to take their cues from the news cycle heading. Indeed, any new developments in the Trump legal morass or global trade disputes could see it drive markets in either direction.