The DAX Futures is trading at 12,215.50 with a loss of -0.14% percent or -17.00 point .The FTSE 100 Futures is trading at 7,385.00 with a loss of -0.20% percent or -15.00 point. The CAC 40 Futures is trading at 5,402.50 with a loss of -0.01% percent or -0.50 point . The EURO Stoxx 50 Futures is trading at 3,358.00 with a loss of -0.18% percent or -6.00 point.
TODAY’S FACTORS AND EVENTS
The DAX index is trading sideways in the Thursday session. Currently, the index is at 12,295 points, up 0.07% on the day. In economic news, there are no German or eurozone events on the schedule. On Friday, Germany releases Factory Orders and PPI. In the U.S, the key event is nonfarm payrolls.
The crisis over Italy’s budget continues to weigh on European stock markets. Last week, the new populist government proposed a controversial budget which increases spending, lowers taxes and set the budget deficit at 2.4% of GDP for the next three years. Italy has a massive debt, and the European Union doesn’t want Rome to expand the current deficit, which stands at 1.6% of GDP. The populist Italian government appeared to backtrack on Wednesday, and has now said that the budget deficit could be lowered in 2020 and 2021. Still, the budget remains a sore point for the EU, and the risk appetite could slide if the EU and Italy remain at loggerheads over Italy’s fiscal policy. The budget must first be approved by Italy’s parliament and then by the European Commission, so this crisis could continue for some time.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 26,627.48 with a loss of -0.75% percent or -200.91 point. The S&P 500 is trading at 2,901.61 with a loss of -0.82% percent or -23.90 point. The Nasdaq Composite is trading at 7,879.51 with a loss of -1.81% percent or -145.57 point.
In other parts of world, Japan’s Nikkei 225 is trading at 23,783.72 with a loss of -0.80% percent or -191.90 point. Hong Kong’s Hang Seng is trading at 26,587.88 with a loss of -0.14% percent or -35.99 point. China’s Shanghai Composite is trading at 2,821.35 up with +1.06% percent or +29.58 point. India’s BSE Sensex is trading at 34,779.95 with a loss of – 1.11%percent or -389.21 point at 12:15 PM.