• The S&P 500 has initially pulled back during the trading session on Tuesday but then shot higher to test resistance. It looks as if the CFD market is trying to break out right along with the futures market, and that we could go looking towards the 2880 handle. That’s an area that was massive resistance in the past, so I think it will take something special to break above there. However, for those of you who like trading momentum and breakouts, this could be the perfect scenario as just above was a significant amount of selling pressure. If we can break above there, then the market should continue to grind to the upside.
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• Asian stocks rose modestly on Wednesday, supported by upbeat Wall Street earnings and hopes China’s government spending would boost growth but trade tensions remained in focus ahead of a meeting between the U.S. and European Commission presidents.
With the trade spotlight now swinging to Europe, spreadbetters expected the region's stocks to open lower, with Britain's FTSE .FTSE dipping 0.15 percent, Germany's DAX .GDAXI losing 0.3 percent and France's CAC .FCHI shedding 0.15 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS gained 0.2 percent.
• Japanese shares rallied for a second day on Wednesday, buoyed by gains in steelmakers and metal producers, as markets cheered Beijing’s pledges of a more vigorous fiscal policy.
The benchmark Nikkei share average rose 0.46 percent to 22,614.25, erasing more than half of its losses from Monday after media reports that the Bank of Japan may adjust its policy.
• China stocks ended slightly lower on Wednesday as investors paused for breath after three straight days of gain.
The blue-chip CSI300 index ended down 0.1 percent at 3,577.75 points while the Shanghai Composite Index also eased 0.1 percent to 2,903.65 points.
Both indexes were up for the past three session in a row as investors cheered Beijing’s stimulus plan.
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