The Post Summit Rally Is Over: European Market And US Futures Are In The Red

Asian markets are still catching up to yesterday’s post-EU-summit rally. The Nikkei closed up 1.4%; Shanghai up 1.55%; the Sensex up 2.9%.

European markets started fading after a bad Italian bond auction and are now mostly in the red. At least French banks Credit Agricole and BNP Paribas are both up over 3%.

In America the rally looks to have run out of steam. Yesterday’s 340 point gain for the Dow has receded around 60 points in overnight trading.

chart

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.