Will The Dollar Ruin The Santa Claus Rally in the S&P 500?
Stock Traders Put European Debt Issues Back on Forefront
U.S. Dollar Under Pressure but Investors Still Jittery over European Banks
European Strength Driving U.S. Futures Markets Higher
Investor sentiment is up this morning, driving U.S. stock index futures higher in the wake of strong earnings results from European banking giants UBS and Deutsche Bank. Investors are also buying in anticipation of strong earnings results from Aetna, Inc., Anadarko Petroleum Corp., DuPont and Lockheed although banking stocks are expected to carry the market today.
All Eyes on Stress Tests Today; European Economy Shaping Up
The strong economic data from Europe this week is helping to renew confidence in a global economic recovery while the U.S. still struggles with the possibility of a double-dip recession. Traders have been punishing the Dollar late this week as the combination of dovish testimony from Fed Chairman Bernanke and robust economic news from Europe means interest rates will remain low in the U.S.
U.S. Stocks Called Lower as Traders React to Asian, European Weakness
The Euro continued its slide on Tuesday and signs are developing that indicate the problem is with the European Union and not the Euro. The market seems to be content with the weakness in the Euro. It’s the inability of the European Union to act as a cohesive unit that makes traders feel that a breakup may be coming.