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Current Futures: Dow -9.00, S&P -1.40, NASDAQ -1.50
European markets found the strength to trade into the green, even though S&P futures are trading below the break-even line and the Asian markets closed the trading session down almost 1%. However, European markets were still not able to move anywhere decisively, following the pattern set since the beginning of June.
After two weeks of declines, in which the major indexes saw only limited movement, the European markets opened Monday’s session trading slightly above the break-even line. There were no major economic reports during the European session, something that made the market just follow the pattern laid before.
The Electronic sector and European healthcare companies advanced, something also seen over the past week in the S&P 500. Volkswagen dropped almost 5% on Monday, on a very thin volume, as problems seem to continue with its new major shareholder, Porsche.
The Financial sector headed lower in German Dax trading, after Commerzbank said that the second quarter results might vary, and it is that same Financial sector that may weigh on U.S. equity trade. In the mean time, the U.K.’s FTSE Financial sector had Lloyds move higher after Goldman upgraded the bank to “buy.”
Overnight, the U.K. FTSE rose 19.77 points (0.47%) to 4,260.78, while the German Dax added 31.31 points (0.66%) to 4,807.78
Crude oil for July delivery was recently trading at $69.50 per barrel, lower by $0.10.
Gold for July delivery was recently trading lower by $1.20 to $939.80.
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