Stock index futures measuring the strength of indexes on the other side of the globe declined late Monday afternoon, as new revelations about the American real estate market and an Irish bailout plan unsettled investors.
The Irish government said that it will accept a bailout package from the United Kingdom, the European Union and the International Monetary Fund of about 80 billion to 90 billion euros. In coverage of the Australian economy, Moody's Investors Service said an Irish bailout wold pose a "credit negative" for the nation, reported Bloomberg.
"The admission by the Irish that they need financial aid is not unexpected, and nor is the negative stance taken by ratings agencies," Angus Gluskie, at White Funds Management in Sydney, told the news service. "Attention has now turned to Spain and Portugal and investors may fret about risks for those countries until a satisfactory level of assurance about their financial outlook can be convincingly given."
In Australia, S&P/ASX 200 index futures slid 0.6 percent to 4,638. Singapore's SPI 200 index futures declined 26 points to 4,639, while in Hong Kong Hang Seng index futures dropped 73 points to 23,575.
S&P 500 index futures lost 1 point to 1,196.90.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.