MAY DAY: Japan Tumbles, Europe Closed, US Futures Going Nowhere

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Photo: Wikimedia Commons

It’s May 1, so basically all of Europe is closed.And a large swath of Asia is closed for holidays as well.

But Japan did trade last night, and it lost big following that weak Chinese PMI report. The Nikkei was down 1.78%.

And meanwhile US futures are going nowhere.

Things should pick up later with the release of the US ISM.

The one other big event overnight: The Reserve Bank of Australia cut rates by a greater-than-anticipated by basis points. The market was only looking for 25.

UPDATE: Just out: UK PMI came in much weaker than expected, and the British Pound is falling.

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