After Monday's sludgy day of trading, American markets were fighting to get out of the muck and make some confident strides forward. Unfortunately, that was a losing battle. Overseas markets, both in Europe and Asia, were soft, while futures, especially the Nasdaq 100 futures, were rather murky.
, an electronic exchange where currency and index options trade, were off 4.3 to 1354, which is really a gain of about 2 points from fair value as calculated by
. Nasdaq 100 futures on Globex were down 27 to 2656, a loss of around 8 points from fair value as calculated by
So, it looks like the
Nasdaq Composite Index
will open in the red, an extension of Monday's late-day softening and an
unspectacular earnings release from
, which missed Wall Street projections by 2 cents a share.
European markets were lower around midday, taking their cue from Monday's action in the U.S. London's
fell 28.3 to 6203.7. On the Continent, Paris'
dropped 46.5 to 5836.3, while Germany's
stumbled 15.6 to 6659.4.
Fukushiro Nukaga, Japan's economics minister, resigned his office this morning after a bribery scandal. But Japanese markets were more interested in tech earnings and American markets, so Japan ended softer, with the benchmark
slipping 47.76 to 13,984.66. Monday's weakness in technology in the wake of the
warning helped sink the Nikkei for much of the trading day. And when the news of Texas Instruments' earnings miss hit the news, the day was a guaranteed loser.
dropped 55.06 to 16,044.21. For more on the world stock markets, check out
global indices page.
For Monday's postclose trading, see The Night Watch.