European stocks at the lows as the mood sour

Late yesterday, it looked like US equities would break down into the close but there was sharp turn late and the S&P 500 closed fractionally higher. Now that looks like it was only a stay-of-execution with futures down 39 points, or 0.7%.

The mood is the same in Europe with the main bourses down from 0.5% to 1.4% as France lags.

A single stock — Nvidia — is trying to hold global equity markets together at the moment. It rose nearly 7% yesterday and is up fractionally in the pre-market but other US megacaps are set to open lower.

American Airlines cut its profit forecast today and shares are down 8% in the premarket. The drop wasn’t on volumes though with US air travel still set to be robust and Southwest affirming its forecast at the same time.

This article was written by Adam Button at www.forexlive.com.