The S&P 500 trades unchanged pre market. The Dax retraces strongly, trading up1.21%. Investor focus remains on Deutsche Bank, who announced that they are selling their UK insurance subsidiary Abbey Life, which should realize 1 billion Euros. In addition, CEO John Cryan announced that there is no need for a capital increase for Deutsche Bank at the moment. Largest gainer in the DAX today is Linde, where speculations over the Praxis takeover are rising again. A possible takeover by Microsoft cause Twitter stocks to gain. Nike lost ground in after market trading, despite announcing stronger results. The USD firms up against the Yen. WTI Oil rises 1% and Gold is unchanged. We expect Wall Street to open unchanged.
The S&P 500 is in a sideways trend. Resistance is at 2200 and support at 2115.
The Nasdaq 100
The Nasdaq 100 is in an upward trend.
RoboForex Analytical Department
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