DAX not open today but the futures are lower

As noted here a few times last week, there was clear evidence of rotation out of US stocks and into the European markets. That could have stemmed from US domestic outflow, or it could have stemmed from European investors rotating out of US stocks and coming back home. The truth is it was probably a combination of the two. However, that did not stop the major European indexes from setting mostly lower closes on Thursday (except for the FTSE 100). The CAC 40 led the downside (-0.6%) and the DAX was not far behind it in percentage terms. The DAX handed back 0.49%, when it closed 105 points lower, at 21,205. The index will not be open for live trading today, but the futures are trading and they are in the red. The losses across the US futures this morning is  leading that and of course adding to it. So, right now the DAX future is pricing the opening for tomorrow at around 21,070