The S&P 500 is down 0.36% in premarket trading. German stocks have weakened markedly since the beginning of the week. The DAX index loses 0.77% today. Bayer is amongst the losing stocks, despite reporting very good quarterly numbers. In this quarter profit rose by 6 % to 2.7 billion Euro, Analysts had expected 2.5 Billion on average. The Monsanto takeover is still viewed negatively. Monsanto reported a profit drop of 42% in the past year. The DAX was not able to maintain its year high from yesterday, viewed technically this can be viewed as a false break out, which is to be interpreted negatively. Premarket Apple trades ca. 2 % lower after yesterday´s numbers. Gold is 0.19% softer, whilst WTI Oil loses 1.6%. The USD loses against the Euro and gains slightly to the Yen. We expect a weaker open on Wall Street.
The S&P 500 is in a sideways trend. Resistance is seen at 2200, support at 2115.
The Nasdaq 100 is in a sideways trend. Resistance is seen at 4900, support at 4800.
RoboForex Analytical Department
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