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Overseas Optimism Pushes US Equity Futures Higher. Econ Data on Deck
A hefty 4.5% gain in China’s Shanghai stock index led to optimism in European markets today and now, before the open, US equity futures are looking higher too.rnrnVolatility in the Shanghai index has been leading markets all week long, though US markets were able to recover after opening sharply yesterday. All three major US indexes ended the day about 0.68% up, and today those gains are being extended, albeit slightly. The benchmark S&P 500 is up 3 points to the psychological threshold of 1,000.
Mid-Day Recap: Equities Rebound From Sharply Lower Open
US equity markets opened lower this morning following a 4.3% fall in China’s Shanghai index, but 90 minutes into the session stocks were rallying. Well, somewhat at lease. Equities are still in the red overall, but since the bell sounded the path has been clearly upward.rnrnTwo hours into the session, indexes are approaching flat levels. The S&P, which traded as low at 980 at the opening, is now just 0.15% lower at 988, while the Dow is trading 0.19% down at 9,200, and the Nasdaq is down 0.32% to 1,949.rn
Commercial Activity Weak, May Not Start Recovery Until Mid-2010
Activity in commercial real estate continued to decline in the second quarter, pushing activity to its lowest level in 15 years, an industry survey said.rnrnThe Commercial Leading Indicator for Brokerage Activity, which has been tracking the industry since 1990, softened by 1.3% between April and June to a score of 101.5, the lowest level since the first months of 1994. That’s nearly 14% below levels seen last year.
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