Benzinga Market Primer for Monday October 22
U.S. equity futures traded slightly higher on Monday, following Friday's dramatic sell-off. Stocks in Europe and Asia traded largely flat as there was little major economic news affecting the global economy.
In other news around the markets:
- Japan's trade balance came in lower than expected at -980B yen versus the -740 yen that was forecast.
- Spain's Prime Minister Rajoy won a political victory over the weekend as his party won a victory in a regional election.
Asian shares were slightly higher on Monday. The Japanese Nikkei Index gained 0.09 percent while the Hang Seng rallied 0.68 percent.
European shares were trading slightly to the downside. The FTSE traded down 0.16 percent while the Dax dropped 0.11 percent.
Commodities showed slight strength early Monday. WTI crude oil traded back above $90, while gold traded near $1725.
The U.S. dollar showed weakness against European currencies early Monday, as both the euro and the pound gained against it.Yet, the dollar was strong against Asian currencies, rallying against both the yen and the Australian dollar.
Earnings expected for Monday include:
On the economic calendar Monday there are no major economic releases. However, there will be three- and six-month bill auctions in the U.S. and France..
Good luck and good trading.
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