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:

Chart

Photo: Finviz.com


(Charts via Bloomberg, Finviz.com)

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.