Market news
11.01.2011, 14:19

Before the bell: U.S. stocks were poised to open higher Tuesday, as Japan's pledge to buy eurozone bonds eased jitters.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were up ahead of the opening bell. Futures measure current index values against perceived future performance.

On Monday, stocks ended just below breakeven, following a sell-off in European markets as investors worried about a possible bailout for Portugal.

Tuesday's light economic schedule could lead markets to snap those losses and drift higher as investors hunt for bargains, said Bruce McCain, chief market strategist at Key Private Bank.

What U.S. and Portugal have in common
"With a lack of economic statistics out today there's not a whole lot to worry about, so that may give little assurance to those inclined to buy, and give a lift to the market," said McCain.

"But the market is pretty extended in terms of investor sentiment and in terms of having made a strong run, so it needs to pull back at some point and digest the gains it has made," he added.

World markets: European stocks rose in morning trading, amid reports Japan will buy eurozone bonds to help prevent the spread of the region's debt crisis.

"The debt crisis is a lot of what was weighing on the market yesterday, so some of these fears seem overblown as investors look at Japan's entry," said McCain. "Certainly there's a lot of buying power in Japan, so if they are seriously willing to help Europe by buying up some of those bonds, that will limit -- to a degree -- the downside the sovereign debt crisis poses."

Britain's FTSE 100 jumped 1.2%, the DAX in Germany gained 0.8% and France's CAC 40 climbed 1%.

Asian markets ended the session mixed. The Shanghai Composite rose 0.4% and the Hang Seng in Hong Kong gained 1%, while Japan's Nikkei edged down 0.3%.

Economy: The Commerce Department releases its wholesale inventories report before the bell. Inventories are expected to have risen 1.0% in November, after jumping 1.9% in October.

© 2000-2023. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Japan and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location