This morning, the S&P 500 Index e-mini futures (ES-H3) are trading higher by 4.00 points to $1495.50 per contract. It seems that the large institutions that move markets would love to close this stock market at or above the $1500.00 level on the S&P 500 Index for the weekend. This is a very psychological number that will likely cause the public to get more involved. So far, the trading volumes in 2013 are so light that it shows there is very little public participation in the stock market.
Corporate earnings continue to be released in droves. Some of the big earnings that have been released after the closing bell yesterday are Microsoft Corp (NASDAQ:MSFT), Juniper Networks Inc (NASDAQ:JNPR), and Starbucks Corp (NASDAQ:SBUX) to name just a few. Many more earnings reports will be released over the next few weeks. This tells us that many individual stocks could be volatile despite the strong major stock indexes such as the S&P 500 Index.
Last night, the Asian markets were mixed. The big winner in Asia was the Nikkei 225 Index (Japan) finishing higher by 2.88 percent. This index soared higher on the back of more money printing by the Japanese central bank. As long as the central bankers keep printing money I suppose the Nikkei Index can still trade higher. One day there will be a price to pay for all of this easy money. The Bombay Sensex Index (India) also traded higher by 0.90 percent. So today, traders can watch for strength in many Japanese and Indian equities. Leading Asian equities such as iShares MSCI Japan Index (ETF)(NYSEARCA:EWJ), The India Fund Inc (NYSE:IFN), Tata Motors Limited (ADR) (NYSE:TTM), and Honda Motor Co Ltd (ADR) (NYSE:HMC) could all see strength at the start of the trading session in the United States.Post by: Nick Santiago