InTheMoneyStocks.com – Holiday Hangover Usually Favors Upside
This morning, the S&P 500 e-mini futures (ES-M2) are trading higher by 9.00 points to 1324.00 per contract. The problems in Europe seem to continue as Spanish retail sales declined 9.8 percent year over year. Bond yields also climbed in Italy after the country sold short term notes. Both the Spanish and Italian stocks markets are trading lower today. The IBEX 35 (Spain) is trading lower by 2.70 percent. Traders and investors must continue to keep an eye on the European debt crisis. A simple way to do this is to watch the U.S. Dollar Index futures (DX-M2). When the U.S. Dollar Index increases it is usually a sign that money is fleeing the Euro currency. As you should know by now, when the U.S. Dollar Index rallies the major stock indexes around the world will deflate and trade lower. Some leading equities that are likely to be in play include iShares MSCI Spain Index ETF (NYSEARCA:EWP), iShares MSCI Italy Index ETF (NYSEARCA:EWI), PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP), and the CurrencyShares Euro Trust (NYSEARCA:FXE). [Go to Source]
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