The S&P 500 gains 0.20% in premarket trading. German stocks are trading unchanged. After initial strength in the morning, stronger selling resumed. Main focus of the market is still quarterly results. Deutsche Bank surprised by reporting a profit. After opening up 3%, the share moved back to unchanged by lunchtime. Trust in Germany´s largest bank is still at its lows. BASF gained 0.33% after reporting good numbers. Volkswagen softened -0.36% after reporting good numbers and opening higher. In US markets, Tesla was able to report its first quarterly profit in three years, turnover more than doubling to 2.3 billion USD. Profit was reported at 22 million USD. The USD gains against the Yen and softens slightly to the Euro. Gold and WTI Oil trend higher. We expect a higher open to 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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