The DAX Futures is trading at 12,795.00 with a loss of -0.30% percent or -38.00 point .The FTSE 100 Futures is trading at 7,705.00 up with +0.03% percent or +2.50 point. The CAC 40 Futures is trading at 5,448.36 with a loss of –0.17% percent or -9.20 point . The EURO Stoxx 50 Futures is trading at 3,450.00 with a loss of -0.14% percent or –5.00 point.
TODAY’S FACTORS AND EVENTS
The DAX has ticked higher in the Thursday session. Currently, the DAX is at 12,847, up 0.13% on the day. In economic news, German Factory Orders plunged 2.5%, missing the estimate of 0.7%. In the eurozone, Revised GDP dipped to 0.4%, matching the estimate.
The eurozone economy has been performing well and inflation continues to move higher, raising the question of what’s next for the ECB stimulus program. The ECB currently buys EUR 30 billion each month, and the scheme is scheduled to end in September. The bank has extended the program in the past, but stronger economic conditions have strengthened the case to finally end stimulus. The ECB has not formally discussed the issue, leaving the markets to hunt for any clues about the bank’s plans. On Wednesday, ECB chief economist Peter Praet said that the ECB would commence discussing the issue next week, when the Governing Council meets in Riga, Latvia. Many policymakers favor a gradual reduction in stimulus over several months, rather than completely turning off the tap in September. If the ECB makes any announcements regarding further tapering, we could see some volatility from European the stock markets.
For the day the Dow is trading at 25,268.72 up with +0.49% percent or +122.33 point. The S&P 500 is trading at 2,774.05 up with +0.061% percent or +1.70 point. The Nasdaq Composite is trading at 7,631.58 with a loss of –0.75% percent or –57.67 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,823.26 up with +0.87% percent or +197.53 point. Hong Kong’s Hang Seng is trading at 31,512.63 up with +0.81% percent or +253.53 point. China’s Shanghai Composite is trading at 3,109.50 with a loss of –0.18% percent or –5.68 point. India’s BSE Sensex is trading at 35,463.08 up with +0.81%percent or 284.20 point at 12:15 PM.