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Current Futures: Dow +20.00, S&P +3.10, NASDAQ +6.50
U.S. markets closed the spot session near the breakeven line, helped by a rally seen just before the closing bell. Despite this, Asian markets traded mixed, unable to pull any important trades.
Helped by the consumer discretionary and by the financial sectors, the major indexes in the U.S. managed to recover just before the closing bell almost every point lost earlier, throughout the day. On the other hand, raw material companies and the health care industry were the biggest drag on the U.S. markets. Most companies were trading lower on Monday, but investors managed to swing the market back into the green (or close to it) as the NYSE recorded its third weakest volume this year TheLFB-Forex.com Trade Team noted.
Despite this, the S&P 500 still looks resilient to break above the 945.00 resistance level as institutional traders fail to take part in the breakout attempt, suggested by the thin volume of trading. For about a week, the index is trading in a 15-point range, while in the last two days of trading, the S&P formed two consecutive doji-stars.
The Asian markets traded mixed tonight, as investors were unable to move the regional indexes. Asian markets advanced strongly since the equity rally started in March, since many investors thought, the global recovery will be led by the emerging economies, mainly China, TheLFB-Forex.com Trade Team said.
Overnight, the Japanese Nikkei fell 20.86 points (0.21%) to 9,844.77. The Australian S&P/Asx advanced 1.90 points (0.05%) to 3,973.10. The Dow Jones gained 1.46 points (0.02%) to 8,764.49, while the S&P index lost 0.95 points (0.10%) to 939.14.
Crude oil for July delivery was recently trading at $68.80 per barrel, higher by $0.70.
Gold for July delivery was recently trading higher by $1.50 to $954.00.
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