Filed Under — InTheMoneyStocks, Stock Market Analysis
InTheMoneyStocks.com – Markets Start Flat Despite Soaring Spanish & Italian Bond Yields
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This morning, the S&P 500 Index e-mini futures (ES-U2) are trading lower by 0.50 points to $1308.25 per contract. Believe it or not, the futures market is holding up well considering the horrible news out of Europe. Bond yields on both Italian and Spanish debt are soaring higher today. In fact, the yields on the Spanish 10-year bond reached 7.0 percent earlier today after Moody’s cut the countries debt rating. Greece will be holding another vote this weekend to decide if they want to stay in the European Union. You just can’t make this stuff up as it just seems to be getting worse by the minute. This is why we use charts and do not care about the news. Traders must keep an eye on the U.S. Dollar Index as a falling dollar will help to inflate the major stock market indexes. [Go to Source]
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