By Chris Becker
European stocks finally put in a good run overnight with US stocks pulled along higher with tech stocks outweighing industrials, although Apples after market announcement of lower sales might flip that relationship tonight. With the French election pending, traders threw caution to the wind in Europe while currency and commodity markets were relatively quiet with US bonds gaining strength after a brief dip on the new Treasury Secretary’s comments.
Yesterday in China, the Shanghai Composite closed down 0.35% lower to 3142 points, barely holding above the level of crucial support at 3100. I’m still expecting a small bounce here on intervention but am prepared for a breakdown below support:
