The DAX Futures is trading at 12,678.00 with a loss of -0.11% percent or -13.50 point . The FTSE 100 Futures is trading at 7,591.00 up with +0.22% percent or +17.00 point. The CAC 40 Futures is trading at 5,385.03 up with +0.24% percent or +12.73 point . The EURO Stoxx 50 Futures is trading at 3,442.00 up with +0.15% percent or +5.00 point.
TODAY’S FACTORS AND EVENTS
Investors remain wary this week, as the trade war rhetoric between the United States and China continues to escalate. On Tuesday, the DAX fell to its lowest level since May 31. The trouble started on Friday, when the U.S announced a 25 percent tariff on $50 billion in Chinese goods. After China responded with an identical move on U.S. imports, President Trump threatened to impose 10 percent tariffs on some $200 billion in Chinese goods. Not surprisingly, China has threatened to retaliate against this latest move. Trump has vowed to take action on the $375 billion trade deficit that the U.S has with China, claiming that the latter is guilty of unfair trade practices. With the first of the U.S tariffs scheduled to take effect on July 6 and no signs that any side will blink first, the markets should be preparing for stormy weather ahead. It will be interesting to see if central bank heads Draghi and Powell address the tariff spat on Wednesday at the ECB Forum.
For the day the Dow is trading at 24,657.80 with a loss of -0.17% percent or -42.41 point. The S&P 500 is trading at 2,767.32 up with +0.17% percent or +4.73 point. The Nasdaq Composite is trading at 7,781.51 up with +0.72% percent or +55.93 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,693.04 up with +0.61% percent or +137.61 point. Hong Kong’s Hang Seng is trading at 29,376.37 with a loss of -1.08% percent or -319.80 point. China’s Shanghai Composite is trading at 2,875.81 with a loss of -1.37% percent or -39.92 point. India’s BSE Sensex is trading at 35,571.64 up with +0.068% percent or +24.31 point at 12:15 PM.