Welcome Back: U.S. Futures Are Already Sliding Despite Positive Asian Surprises

Flee Running

Asian stocks rallied after China reported a strong trade surplus this weekend, and South Korea hiked their GDP forecast to 5.9% today. Yet Japan was the relative underperformer likely due to Sunday’s shock election results which could threaten fiscal reforms.

China: +1.1% (CSI 300) 

South Korea: +0.6% (KOSPI)

Asia: +0.2% (MSCI Asia Apex 50) 

Hong Kong: +0.3% (Hang Seng) 

Japan: -0.4% (Nikkei)


European stocks are fighting around break-even, and the euro has been weakening over the last 12 hours. Spain may have won the world cup, but their bond yields are rising again.

London: +0.05% (FTSE 100)

Frankfurt: +0.05% (DAX)

Paris: -0.1% (CAC 40)

The Euro: $1.258 (-0.5%)

Spanish 10-year yield: 4.7% (+0.15%)

Oil made a nice rally since July 7th, and over the weekend, but is losing steam today. The Baltic Dry Index continues to nose-dive.

Dollar Index: +0.5% (DXY 84.4)

Gold: -0.1% ($1,208)

Oil: -0.8% (Light Sweet Crude $74.82)

Baltic Dry Index: -1.96% (BDI 1,902) 


U.S futures aren’t taking their cues from Asian strength, however, and are routing:


Photo: Finviz.com

(Charts via Bloomberg, Finviz.com)

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