DAX set to open sharply lower this morning
Yesterday all the major European stock markets ended the day with gains. The best performing index was the FTSE 100, with a gain of 0.93% on the day. That was followed by the DAX, with a 0.75% gain and the CAC 40, with 0.67%. However, as we know the bond market losses stateside and the firmer dollar and yields, sent the US markets lower and it has been a sea of red in Asia today. Hence, the European markets are set for a rude awakening this morning. The DAX closed yesterday at 15,781, with a gain of 117 points on the session. It is set to reopen well below that close. The DAX futures have earlier priced the opening to as low as 15,600. They are off that low now, but it is going to be lower opening in around 30 minutes. The only question is by how much. The current indication is the index will resume live trading at around 15,650
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