Monday, October 12, 2009

Early Tuesday Trading

S&P 500 futures vs fair value: - 1.70at 1073.40. European bourses are trading with a mixed fashion. Germany's DAX is trying the green terriotory for the second time but sellers are so far more persuasive . Consumer Price Index data was released today in Great Britain. The number was surprisingly flat in September, 0.0%. The new data suggested that the Bank Rate will still remain the same, at 0.5%. Participants of FTSE 100 are pushing the Index into the positive territory after the announcement. Meanwhile France's CAC 40 is heading back to south once again. After the Consumer Price Index, CPI, was released, sellers took control and doubled their efforts. The Index is trading with some moderate losses at 38,380, down 0.39%. Although consumer prices were much weaker than expected, 0.2% decline, French economy seems to be growing again according to economists.

Market is just about to open. Both ISCS-Goldman Store Sales and Redbook data came better than expected. Redbook reported that the 0.6% increase at chain stores was the best year-on-year sales rate since April. Investors sees this announcement as an important indicator to the Retail Sales which will be released tomorrow.

S&P 500 futures still suggest a choppy start at the stock exchange.