US Futures Down, Spain Down Big On Seized Bank, But Shanghai Soars On Housing Bubble Greenlight

spain recession

With several hours to go in the pre-US trading day, things are looking modestly negative. US index futures are pointing down between .5% and .75%, with last week’s biggest loser, the NASDAQ, taking the worst of it.

Commodities are mixed, withing nothing too notable going on there just yet. Oil remains above $70 for the time being.

A particularly weak right now is Spain, which seized a bank over the weekend. The IBEX is down about 1%. On the other hand, France’s CAC-40 is up modestly, so it’s not all bad.

The world’s big winner is the Shanghai Composite, which spiked 3% on a report that officials would not be instituting a property tax for another three years.

Meanwhile, the euro had a pretty rough night:

chart

Photo: FinViz

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