The DAX Futures is trading at 12,321.50 up with +1.47% percent or +178.00 point .The FTSE 100 Futures is trading at 7,631.50 up with +1.07% percent or +80.50 point. The CAC 40 Futures is trading at 5,345.93 up with +1.33% percent or +70.29 point . The EURO Stoxx 50 Futures is trading at 3,400.00 up with +1.46% percent or +49.00 point.
TODAY’S FACTORS AND EVENTS
European equity markets remain under pressure, as investors cast a nervous eye on the escalating trade tariff between the U.S and its major trading partners. The DAX has lost 2.0% so far this week, and there is more downside potential if trade tensions worsen. On Friday, the EU slapped retaliatory tariffs of some 25% on $3.3 billion of U.S goods. This move was in response to U.S tariffs on EU steel and aluminum imports. President Trump didn’t blink and has threatened to impose 20% tariffs on EU vehicles. This threat sent automobile stocks on the DAX sharply lower on this week, as Daimler (DE:DAIGn) and BMW (MI:BMW) recorded steep declines. BMW exports cars from the U.S to China and Europe, so the trade battles could have a negative impact on the company’s revenues.
For the day the Dow is trading at 24,216.05 up with +0.41% percent or +98.46 point. The S&P 500 is trading at 2,716.31 up with +0.62% percent or +16.68 point. The Nasdaq Composite is trading at 7,503.68 up with +0.79% percent or +58.60 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,304.51 up with +0.15% percent or +34.12 point. Hong Kong’s Hang Seng is trading at 28,945.98 up with + 1.57% percent or +448.66 point. China’s Shanghai Composite is trading at 2,847.42 up with +2.17% percent or +60.52 point. India’s BSE Sensex is trading at 35,332.13 up with +0.84% percent or +294.49 point at 12:15 PM.