The S&P 500 is trading up 0.13% pre-market. The DAX is unchanged ahead of tomorrow´s ECB meeting. After initial weakness, stocks were able to rebound. Main focus of the day are automotive stocks. As such BMW and Daimler gain by 1.45% and 1.27%. Both companies profit from better than expected Chinese industrial production figures, which came at +6.4% against +6.1%. China is a major export market for the German automotive industry. Prior to the US open Morgan Stanley gave better results and the oil exploration company Halliburton surprisingly announced a profit. Both stocks are up pre market. We expect a higher open to Wall Street. Gold and WTO Oil are firmer. The USD loses against the YEN and rises to the Euro.
The S&P 500 is in a sideways trend. Resistance is at 2200 and support at 2115.
The Nasdaq 100 is in a sideways trend. Resistance is at 4900 and support is seen at 4800.
RoboForex Analytical Department
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