Overseas Trading: European Stocks Drop as Draghi Takes the Mic

The ECB left interest rates unchanged, while a press conference with ECB President Mario Draghi is currently underway

Sep 8, 2016 at 8:48 AM
facebook X logo linkedin


It was a mixed finish for stocks in Asia, as crude oil traded modestly higher and traders parsed yesterday's Beige Book release from the Fed. News that Apple Inc. (NASDAQ:AAPL) will soon offer Nintendo's "Super Mario Run" in its app store lifted shares of the Japan-based video game maker by as much as 28%. Nevertheless, Japan's Nikkei dropped 0.3% by the close, as a stronger yen overshadowed an upwardly revised reading on second-quarter gross domestic product (GDP).

Elsewhere, better-than-expected trade data helped China's Shanghai Composite add 0.2%, while a separate report showed Beijing's crude oil imports hit a year-to-date high in August. Hong Kong's Hang Seng tacked on 0.8%, and the South Korean Kospi climbed 0.1%.

European markets are mostly lower at midday, after the European Central Bank (ECB) said it will leave interest rates unchanged. Traders are now digesting a press conference with ECB President Mario Draghi -- currently underway -- for hints on the central bank's future monetary policy forecast. At last check, Germany's DAX and France's CAC 40 have dropped 0.6% and 0.3%, respectively. London's FTSE 100, meanwhile, has added 0.2%. 

overseas stocks september 8

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!