With the US market increasingly taking its cues from Europe and China, the day is basically over by the time the opening bell rings at 9:30 in NYC.Here’s a quick guide to what happened while you were sleeping.
- German GDP growth came in quite weak raising fears of a double dip.
- Overall Eurozone GDP growth was even weaker owing to negative growth in Spain and Italy.
- There’s still no bailout for Greece.
- The Euro is thus getting hammered.
- China is raising reserve requirements.
- The Australian Dollar is getting hammered, as the commodity rich country fears an export slowdown.
- Indian growth is on fire.
- Same too with Japan.
- S&P futures are pointing lower, as are most commodity markets.