The DAX Futures is trading at 10,652.50 up with +1.46% percent or +153.00 point.The FTSE 100 Futures is trading at 6,653.50 up with +0.67% percent or +44.50 point. The CAC 40 Futures is trading at 4,687.50 up with+1.44% percent or +66.50 point. The EURO Stoxx 50 Futures trading at 2,983.50 up with +1.07% percent or +31.50 point.
TODAY’S FACTORS AND EVENTS
There were many reasons cited for the global stock markets crash. Partial shut down of US government over Trump’s border wall could be a reason for late downside acceleration. But it’s after all a one-off event that’s repeated more than once. US-China trade war is on track to have a deal in late February or early March. Fed is often cited as a bearish factor. There were even rumors that Trump has discussed firing Fed Chair Jerome “Jay” Powell after last week’s hike. But as we argued below, investors have significantly pare back expectations on 2019 Fed hikes already. They’re now even unsure Fed will raise interest rates again in the first half. So, reducing bet on Fed hikes yet selling stocks sounds rather non-trivial.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 22,878.45 up with +4.98% percent or +1,086.25 point. The S&P 500 is trading at 2,467.70 up with +4.96% percent or +116.60 point. The Nasdaq Composite is trading at 6,554.36 up with +5.84% percent or +361.44 point.
In other parts of world, Japan’s Nikkei 225 is trading at 20,077.62 up with +3.88% percent or +750.56 point. Hong Kong’s Hang Seng is trading at 25,557.57 with a loss of -0.37% percent or -93.81 point. China’s Shanghai Composite is trading at 2,483.09 with a loss of -0.61% percent or -15.21 point. India’s BSE Sensex is trading at 35,908.16 with up +0.72% percent or +258.22 point at 12:15 PM.