Today’s trade has been a quiet and uneventful one, with light volumes due to the Martin Luther King Jr Day market closes in the US. CME futures are now closed for trade and will reopen at 2300GMT (1700CST) although Eurex remains open as usual. A recent report in US press ‘The Hill’ is likely to gather attention as market participants rejoin the markets tomorrow after it was reported that US Republican House legislation would extend borrowing capacity until May 19 and the vote expected as soon as Wednesday. Officials are meeting today behind closed doors as the Democrats celebrate Obama’s inauguration. US stock futures closed higher today despite little newsflow, supported by price action in their European peers, with large orders exacerbating price action at the European cash close. Tomorrow sees large-cap tech stocks Google and Apple report after the closing bell, as well as Existing Home Sales at 1500GMT (0900CST).
Print 18:19, 21 Jan 2013 - Market Analysis - Source: RANsquawk
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