Monday, July 26, 2010

US futures edge lower, shy movements


Forex Special

(Barcelona) - Stock futures look set to open slightly lower on Monday, following tepid investor's reaction in European markets to the banks stress tests released last Friday. The docile fluctuations may be limiting any upside momentum in Wall Street. 

European markets continue to display shy movements, as if last Friday's banking system tests had already been discounted by market participants. On the contrary, US investors, having had the chance to digest the data prior to the weekend, rallied stocks up considerably. 

Despite the shortage of earning reports on Monday, the week comes fully loaded with interesting releases. BP Plc. is reporting its Q2 net profit next Tuesday. As the US opening bell approaches, the three key benchmark indexes (DJIA, S&P 500, Nasdaq) dropped around 0.2%,

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