The DAX Futures is trading at 12,666.50 up with +0.43% percent or +54.50 point . The FTSE 100 Futures is trading at 7,705.00 up with +0.46% percent or +35.00 point. The CAC 40 Futures is trading at 5,398.40 with a loss of -0.53% percent or -28.94 point . The EURO Stoxx 50 Futures is trading at 3,432.00 up with +0.73% percent or + 25.00 point.
TODAY’S FACTORS AND EVENTS
It’s been a rough road for the DAX this week, which is down 2.2 percent. European stock markets are seeing red in response to the continuing political drama in Italy, as efforts continue to form a government. The two largest parties, the League Nord and the Five Star Movement proposed a eurosceptic finance minister, but this was blocked by the pro-European Matterella. This triggered a political crisis which led to a selloff of Italian stocks and bonds. The prime minister-elect, Giuseppe Conte, then announced that he had withdrawn his mandate to form a government, and Mattarella invited Carlo Cottarelli, a former IMF economist, to form a temporary technocrat government. There was talk of an election in the fall or even earlier, but Mattarella has agreed to let the two parties have a second go at forming a coalition government
For the day the Dow is trading at 24,415.84 with a loss of -1.02% percent or -251.94 point. The S&P 500 is trading at 2,705.27 with a loss of -0.69% percent or -18.74 point. The Nasdaq Composite is trading at 7,442.12 with a loss of -0.27% percent or -20.34 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,171.35 with a loss of -0.14% percent or -30.47 point. Hong Kong’s Hang Seng is trading at 30,498.30 up with +0.098% percent or +29.74 point. China’s Shanghai Composite is trading at 3,075.14 with a loss of -0.66% percent or -20.34 point. India’s BSE Sensex is trading at 35,321.49 with a loss of – 0.0025% percent or -0.89 point at 12:15 PM.