Jan 21, 2016, (9:39AM EST )
U.S. markets are still worried about falling Oil prices. That’s why U.S. stock futures lost their gains after rallying when the ECB president hinted at more stimulus.
Crude Oil futures are still trading below $28.50 price. If Crude futures recover above this level, then markets might rise again.
Watch how Crude futures trade and trade accordingly.
The European Central Banks had its first meeting of the new year today, where interest rates were kept unchanged.
But afterwards in his customary press conference, the ECB president Mario Draghi said that the bank expects these rate to remain at present “or lower levels” for an “extended period of time.”
Mr. Draghi also said, the bank will reconsider its QE in early March as downside risks have increased.
Obviously, European markets and U.S. stock futures are rallying on these words that indicate offers of more liquidity within a couple of months.
Although Oil prices are still hovering slightly higher than $28, but stocks are ignoring Oil for the time being and enjoying their permanent candy- hopes of more QE from the ECB.
Let’s wait till Draghi’s press conference is over and if markets continue with their rally, then we might be in for a bounce back in U.S. markets, European markets and tomorrow, in Asia.
Good luck, enjoy the session!