Overseas Trading: Global Stocks Track Choppy Crude

Global stocks were mixed today, as crude oil fluctuated

Feb 4, 2016 at 8:47 AM
facebook X logo linkedin


Stocks in Asia settled mostly higher, following Wednesday's late rally on Wall Street, as crude futures rebounded. China's Shanghai Composite added 1.6% for the day, while Hong Kong's Hang Seng climbed 1%, and South Korea's Kospi gained 1.4%. However, Japan's Nikkei ended 0.9% lower -- and has nearly erased all of last week's central bank-induced gains -- as the yen again strengthened against the dollar, weighing on exports.

European markets are also mixed as traders eye choppy price action in oil. London's FTSE 100 is up 0.8% so far, after the Bank of England voted to leave its key interest rate unchanged. Meanwhile, the European Commission lowered its forecast for 2016 growth in the eurozone to 1.7% from its previous 1.8% prediction, while European Central Bank President Mario Draghi reiterated his stance that the central bank will "not 'surrender' to low inflation." On the corporate front, financial firm Credit Suisse dropped to a 15-year low after posting its biggest quarterly loss in seven years. At last check, the German DAX is 0.1% lower, while France's CAC 40 is down 0.3%.


160204OS

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox.

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!