|
Asia, Europe And US Major Stock Indexes Fall Due To Withholding Of Aid from Greece
International
Asia
- Major stock indexes were down today due to lack of assurance that Greece will put its plan into action. The Hang Seng Index is down 1.08 percent and Nikkei is down 0.61 percent.
- China’s Shanghai Composite Index increased by 0.1 percent again after an eastern Chinese city said it planned to subsidize property prices.
- For the first time in two years, China has experienced a trade contraction, as both exports and imports fell more than forecast due to falling commodities prices and the weeklong Lunar New Year holiday that hampered trading. Look for movements in the iShares FTSE/Xinhua China 25 Index Fund (NYSEArca: FXI).
Europe
- European major stock indexes fell again today as European leaders withheld aid from Greece and asked it to identify an additional €325 million in spending cuts before an aid package will go through. Be aware of changes in the SPDR Europe Stoxx 50 ETF (NYSEArca: FEU).
Domestic
US
- U.S. stock futures are down due to European leaders withholding aid from Greece and asking for additional cuts.
Commodities
Gold and Silver Narrowly Mixed
As of 7:05 a.m. ET, gold fell 0.68 percent, or $11.75, to $1,717 a troy ounce. Silver rose by 1.03 percent, or $0.35, to $33.55 an ounce. Expect decreases in the SPDR Gold Shares (NYSEArca: GLD) physical bullion ETF, and in the iShares Silver Trust (NYSEArca: SLV).
Fund Flows and Fund Launches
On Thursday, Feb. 9, in creations, the top ETF in nominal inflows was the iShares Russell 2000 Index Fund (NYSEArca: IWM), with inflows of $424.15 million. The top ETF in nominal redemptions was the SPDR S&P 500 ETF (NYSEArca: SPY), with $446.59 million in outflows.
ETF Filings
Van Eck filed new paperwork on its Market Vectors Unconventional Oil & Gas ETF, saying in the updated paperwork that the fund will trade on NYSE Arca under the symbol “FRAK,” and will have an annual expense ratio of 0.54 percent, including an 8 basis point fee waiver.
Economic Calendar
● Trade Balance − 8:30 a.m. ET
● University of Michigan Consumer Confidence Survey − 9:55 a.m. ET
● Monthly Budget Statement − 2 p.m. ET
|
