Tuesday Morning Cheat Sheet: 3 Stories Moving Markets
Japan’s Nikkei fell 0.31 percent on Tuesday after soaring over 2 percent on Monday, with the yen trading at 93.56 to the dollar. The Hang Seng fell 1.02 percent, matching losses in Shanghai as investors grew concerned about possible measures on the mainland that could curb rising property prices. Meanwhile, the S&P/ASX 200 gained 0.36 percent, remaining above the psychologically-significant level of 5,000 as earnings continue to come in strong.
The economic malaise cast over Europe last week after preliminary data showed weak GDP growth across the region seems to be lifting. Germany’s DAX was up 1.06 percent, London’s FTSE 100 was up 0.49 percent, and the STOXX 50 was up 1.09 percent as New York headed toward its opening bell.
U.S. futures at 8:00 a.m.: DJIA: +0.11%, S&P 500: +0.17%, NASDAQ: +0.23%.
Here are three stories to keep an eye on:
1) The widely-watched ZEW Indicator of Economic Sentiment for Germany increased 16.7 points in February to stand at 48.2, well ahead of expectations for a reading for 35.0. The report confirms data released last week that showed a broad slowdown in business activity and economic growth, but the sharp increase in sentiment suggests that market participants are expecting the situation to improve, or at least not get any worse, over the next few months.