DAX Futures Morning Update on 05 July 2019

The DAX Futures is trading at 12,604.80  with a loss of -0.21% percent or -26.20 point.The FTSE 100 Futures is trading at 7,525.20 with a loss of -0.20% percent or -15.30 point. The CAC 40 Futures is trading at 5,611.68  with a loss of -0.16% percent or -9.04 point.  The EURO Stoxx 50 Futures trading at 3,532.00 with a loss of  -0.06% percent or -2.00 point.

TODAY’S FACTORS AND EVENTS

economic calendar broken up by July 4th holiday tomorrow, the market will be all eyes on the ADP and ISM Services due later today. Although Friday’s NFPs will be the marquee event of the week, today’s releases will give a good glimpse at the state of labor demand and services activity in the U.S.

Credit markets have been very bearish in their assessment of U.S. growth with the 10Y yield slipping below the psychologically important 2% level yesterday to hit a low of 1.94% today. Therefore, the conditions are ripe for a short squeeze in rates if U.S. data proves to be relatively resilient. The markets are looking for a rebound to 140K in ADP from 27K previous which could temper the dramatic rate cut expectations currently priced in.

PREVIOUS DAY ACTIVITY

For the day Germany’s DAX closed at 12,622.08  with a loss of -0.06% percent or -0.06% point. the FTSE 100 closed at 7,587.78   with a loss of -0.21% percent or -16.24 point. France’s CAC  40 closed at 5,613.17  with a loss of -0.13% percent or -7.55 point.

WORLD MARKETS

For the day the Dow is trading at 26,966.00 up with +0.93% percent or +248.57 point. The S&P 500 is trading at 2,995.82 up with +0.77% percent or +22.81 point. The Nasdaq Composite is trading at 8,170.23  up with +0.75% percent or +61.14 point.

In other parts of world, Japan’s Nikkei 225 is trading at 21,746.38 up with +0.20% percent or +43.93 point. Hong Kong’s Hang Seng is trading at 28,740.75  with a loss of -0.19% percent or -55.02 point. China’s Shanghai Composite is trading at 3,011.06  up with +0.19% percent or +5.81 point. India’s BSE Sensex is trading at 39,557.34  with a loss of -0.88% percent or -350.72 point at 12:15 PM.