U.S. stock markets closed lower under thin trading conditions as most major market participants took the day off ahead of tomorrow’s 2Q GDP report. This left the market wide open for day-traders and scalpers who created a little volatility early before eventually settling down after the mid-session.

Oversold conditions and the lack of fresh bearish news helped the Euro turn around and close higher for the day. Fundamentally, nothing happened to change the minds of traders. Investors are still concerned that the European Union is not doing enough to fix the financial problems in the Euro Zone.

U.S. equity markets are showing small gains overnight as traders begin lightening up positions ahead of this Friday’s Non-Farm Payrolls Report. Economic reports may take a backseat throughout this week as traders try to determine how the employment picture has changed during the month.