Seeking Alpha

Traders look to quiet session as Europe jitters ease

  • Global markets are much calmer today, as concerns over a major Portuguese lender have cooled; S&P and Dow flat, Nasdaq +0.2%.
  • European markets trade mostly higher, with Portugal's PSI +2.2% after yesterday's 4.2% plunge; Asian markets ended on a mostly lower note.
  • Currency markets also show resilience, with the euro trading at 1.3612 vs. the dollar, reversing yesterday's marginal weakness; the yen is broadly unchanged against the dollar.
  • Financials are in focus after Wells Fargo reported a higher profit amid a drop in revenue, sending shares -1.2% premarket; the big investment banks will report next week.
  • Treasurys open the day with modest gains; the benchmark 10-year yield is lower by one basis point at 2.52%.
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