The DAX Futures is trading at 11,500.30 up with +0.30% percent or +34.80 point. The FTSE 100 Futures is trading at 7,066.20 with a loss of -0.64% percent or -45.80 point. The CAC 40 Futures is trading at 5,240.00 up with +0.17% percent or +9.00 point. The EURO Stoxx 50 Futures trading at 3,216.00 up with +0.41% percent or +13.00 point.
TODAY’S FACTORS AND EVENTS
The ECB sent a chill down the spines of investors on Thursday, and the downward trend has continued on Friday.The rate statement and follow-up comments from Mario Draghi were very dovish and have soured risk appetite. The ECB announced that it was extending its forward guidance on interest rate levels, saying that it would not raise rates before 2020.
Although this should not have come as a surprise, the ECB had been on record until now as saying that rates could move higher in late 2019. In an acknowledgment to the slowdown in the eurozone, the ECB announced a new round of long-term loans to eurozone banks and slashed the 2019 GDP forecast for the bloc to 1.1%, down from 1.7% in the previous forecast. Mario Draghi reinforced the bank’s dovish stance in his press conference, saying that downside risk was pointed to the downside, although a recession was unlikely.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,450.24 with a loss of -0.090% percent or -22.99 point. The S&P 500 is trading at 2,743.07 with a loss of -0.21% percent or -5.86 point. The Nasdaq Composite is trading at 7,408.14 with a loss of -0.18% percent or -13.32 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,125.09 up with +0.47% percent or +99.53point. Hong Kong’s Hang Seng is trading at 28,451.14 up with +0.79% percent or +222.72 point. China’s Shanghai Composite is trading at 3,026.99 up with +1.92% percent or +57.13 point. India’s BSE Sensex is trading at 36,985.62 up with +0.86% percent or +314.19 point at 12:15 PM.