The DAX Futures is trading at 11,119.50 with a loss of -1.68% percent or -190.00 point.The FTSE 100 Futures is trading at 6,884.20 with a loss of -1.29% percent or -89.80 point. The CAC 40 Futures is trading at 4,936.00 with a loss of –1.85% percent or -93.00 point The EURO Stoxx 50 Futures trading at 3,108.00 with a loss of -1.52% percent or -48.00 point.
TODAY’S FACTORS AND EVENTS
Barring an economic meltdown, it’s a safe bet that the ECB will wind up its asset-purchase program in December. The markets are now looking ahead to 2019, focusing on the timing of a rate hike. The ECB has adhered to the line that rates will stay on hold “through the summer of 2019”. However, it’s unlikely that policymakers can ignore the issue of a rate hike, which would be a historic move, as the bank last raised rates in 2011. The head of the Dutch central bank, Klaas Knot, recently said that the ECB will have to initiate discussions over the timing of a rate hike in January. Investors will be keeping a close eye on the ECB, looking for clues as to the timing of a rate hike.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 24,984.55 up with +1.63% percent or +401.13 point. The S&P 500 is trading at 2,705.57 up with +1.86%percent or +49.47 point. The Nasdaq Composite is trading at 7,318.34 up with +2.95% percent or +209.94 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,184.60 with a loss of -0.40% percent or -84.13 point. Hong Kong’s Hang Seng is trading at 24,700.99 with a loss of -1.17% percent or -293.47 point. China’s Shanghai Composite is trading at 2,598.85 with a loss of -0.19% percent or -4.95 point. India’s BSE Sensex is trading at 33,576.58 with a loss of -0.34% percent or -113.51 point at 12:15 PM.