Overseas Trading: DOJ Fine Blasts European Bank Stocks

While bank stocks bounced back in Japan, they're getting crushed in Europe after the DOJ fined Deutsche Bank

Sep 16, 2016 at 8:37 AM
facebook X logo linkedin


It was a relatively quiet day of trading in Asia, with public holidays shuttering markets in China, Hong Kong, and South Korea. However, Japan's Nikkei was open for business, and bounced back nicely from Thursday's yen-induced dive. Specifically, the index tacked on 0.7% as shares of Apple Inc. (NASDAQ:AAPL) suppliers rallied. Also serving to boost markets was a rebound in bank stocks, as comments from the chair of the Japanese Bankers Association curbed expectations that the Bank of Japan will cut interest rates on excess reserves further into negative territory at next week's policy meeting.

Stocks in Europe are selling off, as financial stocks slide in the wake of a $14 billion fine levied against German-based Deutsche Bank by the U.S. Department of Justice. Markets also remain on edge ahead of the Fed's policy meeting next week, which could bring the first interest rate hike since December. At last check, London's FTSE 100 is off 0.5%, the French CAC 40 has stepped back 1.2%, and Germany's DAX has dropped 1.4%.
 

overseas trading september 16

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. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI