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Current Futures: Dow -8.00, S&P -0.30, NASDAQ -0.50

European markets found the strength to open higher, despite the strong declines seen over the last few trading sessions. However, soon after, the major European indexes fell below the break-even line. 

During the late Asian trading hours, investor sentiment may have been uplifted as the Bank of Japan noted in its monetary policy statement that the economic conditions have improved in Japan, following the strong contraction pace observed in the last two quarters. The most important point of the statement was that exports and production have begun to increase once again, something that may provide strong support for the Japanese economy, TheLFB-Forex.com Trade Team said. 

Consequently, European shares traded for a short period in the green, but then quickly moved lower. Unlike in the previous sessions of trading, commodity stocks managed to post small gains tonight, in Europe, as the price of oil and metals seem to have stabilized, so far. In the German Dax, most stocks declined, while only one company rose more than 1%, Volkswagen, which was helped to advance, as Porsche – VW biggest shareholder – is in talks with the Qatar Investment Authority.

The S&P futures had a small range of trading overnight, moving less than 4 points, or 0.3%. For now, the S&P is trading barely above the support trend-line that connects the 04.01 and the 05.26 lows. If the S&P futures breaks any lower, the index may continue its downward trend, retracing some parts of the trend started in March.

Overnight, the Japanese Nikkei lost 286.79 points (2.86%) to 9,752.88. The Australian S&P/Asx declined 69.20 points (1.72%) to 3,962.50. The U.K. Ftse added 2.88 points (0.07%) to 4,328.89, while the German Dax fell 12.79 points (0.26%) to 4,877.15

Crude oil for July delivery was recently trading at $70.55 per barrel, higher by $0.10.

Gold for July delivery was recently trading higher by $8.30 to $935.80.

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