MT Insider: Overnight Trading Muted, Traders Likely Stepping Back and Evaluating Positions for Sale

Comment

Shutterstock photo

After a rally this month, traders are taking a step back and digesting information and re-evaluating positions for sale. The focus shifts to next week and the much-anticipated Fed decision.

In overnight trading, China's Shanghai Comp closed up 0.64% and is now up 5.4% for the week, as positive sentiment continues owing to better than expected August economic numbers from the weekend. Note that the next major catalyst is the September flash PMI on 9/23.

In Japan, the Nikkei finished off modestly, although is still up by 3.8% for the week. The press continues to speculate regarding the possibility of a consumption tax. Prime Minister Shinzo Abe will likely adopt the levy as planned combined with an offset to help cushion any negative economic impact.

While the rest of Asia, for the most part, closed in the green, it is worth noting that many of the big Apple ( AAPL ) suppliers extended their Wednesday weakness during the Thursday trading session.

SSEC 2255.60 +14.34 +0.64

N225 14387.27 -37.80 -0.26

SPX 1687.75 -1.0 -0.06

DJIA 15327.0 -3.0 -0.02

IXIC 3180.25 +1.75 +0.06

AAPL 470.25 +2.54 +0.54

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com