DAX Futures Morning Update on 16 November

The DAX Futures is trading at 11,403.50  with  a loss of  -0.45% percent or -52.00 point.The FTSE 100 Futures is trading at 7,056.80 with a loss of -0.51% percent or -36.20 point. The CAC 40 Futures is trading at 5,059.50 with a loss of -0.18% percent or -9.00 point.  The EURO Stoxx 50 Futures trading at 3,209.00  with 0.00% percent or 0.00 point.

TODAY’S FACTORS AND EVENTS

As the largest economy in the eurozone, Germany acts as a bellwether for the rest of the eurozone. Investors were in for a shock on Wednesday, on the news that the German economy contracted in the third quarter, for the first time since Q1 of 2015. German officials tried to put a brave spin on the numbers. Economic Minister Peter Altmaier said that a 0.2% decline “isn’t a catastrophe” and that the economy would rebound in the fourth quarter. The ministry blamed the contraction on weakness in the auto sector due to new pollution standards. However, it’s likely that the skid is also due to the global trade war, which has also resulted in U.S. tariffs on European products. Investor confidence remains very low, and that could be a harbinger of more trouble ahead in the fourth quarter. On Tuesday, the well-respected ZEW research institute said that investors did not expect a rapid recovery from the current weakness. German ZEW Economic Sentiment posted a second straight soft release for November, with a reading of -24.1 points. This points to deep pessimism on the part of institutional investors and analysts.

PREVIOUS DAY ACTIVITY

For the day Germany’s DAX closed at 11,353.67  with a loss of -0.52% percent or  -58.86 point.the FTSE 100 closed at 7,038.01 up with +0.060% percent or +4.22 point. France’s CAC 40 closed at 5,033.62  with a loss of -0.70% percent or -35.23 point. 

WORLD MARKETS

For the day the Dow is trading at 25,289.27 up with +0.83% percent or  +208.77 point. The S&P 500 is trading at 2,730.20 up with +1.06% percent or +28.62 point. The Nasdaq Composite is trading at 7,259.03  up with +1.72% percent or +122.64   point.

In other parts of world, Japan’s Nikkei 225 is trading at 21,680.34  with a loss of -0.57% percent or -123.28 point. Hong Kong’s Hang Seng is trading at 26,093.07  with a loss of -0.039% percent or -10.27 point. China’s Shanghai Composite is trading at 2,679.11 up with +0.41% percent or  +10.94 point. India’s BSE Sensex is trading at 35,452.76 up with +0.55% percent or +192.22 point at 12:15 PM.

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