Seeking Alpha

EU stocks open down following mixed U.S. data yesterday, with banks and mining stocks leading...

EU stocks open down following mixed U.S. data yesterday, with banks and mining stocks leading the way. Credit Agricole (CRARY.PK) is -3.3% and BNP Paribas (BNOBF.PK) -2.4% following downgrades by JP Morgan Cazenove. Euro STOXX 50 -0.4%, London -0.5%, Paris -0.4%, Frankfurt -0.2%.
Comments (1)
  • China comes back on Monday - and will feel it has to catch up in commodity trades. It is VERY unusual for commodities, commodity stocks, and commodity currencies to have had such a terrific week while China is closed for Lunar New Year's and reflects the fact that this was the earliest New Year's in many years - ten calendar days earlier than last year, for example.

     

    Traders can't be blamed for attempting to pre-position today. But there is a good chance European markets - and US markets - will finish up by the end of the trading day.

     

    Good GDP and consumer sentiment - and possibly good earnings from bellwether Ford - may help a lot.

     

    But let us see what we will see.
    27 Jan 2012, 04:32 AM Reply Like
DJIA (DIA) S&P 500 (SPY)