Stocks are poised to open in the red today as European markets head lower.
S&P 500 futures are down by about 0.2 percent and have been weakening in the last hour. France and Germany are both falling by more than half a percent. Most Asian indexes rose overnight after American equities rallied yesterday.
The S&P 500 has been parked at the key 1500 level for more than a week, consolidating after an 8 percent move that started on Dec. 31. Investors are now debating whether to chase stocks at current levels or to wait for a pullback.
There are few important scheduled events today to serve as catalysts. Tomorrow’s calendar includes monthly same-store sales, jobless claims, and European interest-rate news.
— Option Monster