Daily - 29/07/2010 08:43
After the Fed survey showed that there have been slowing signs of economic activity in some regions in US during the summer, most major stock indices reacted to the news by declining moderately when local markets were closed as the report revealed a path to steady recovery will not be a smooth one. It is very likely that investors use the report as an excuse to take some of recent gains in early trading session, so we expect ISE30 index futures to open with a negative gap, and manage to stay over 76.200 level. Participants still wait for upcoming earning results and an initial jobless figure in afternoon whether extend to cash gains or hold existing positions. In absence of local news, the mood in European markets will be crucial to set the tone in local ones.
