Negative sentiment on the Stock Market; Looking forward to Retail Sales from the US at 15:30

Negative sentiment is present on the stock markets, due to caution in anticipation of  the US data on retail sales at 15:30 and Consumer Confidence at 17:00. The data will provide more signals, whether recession will occur or not.

Decline in oil price also had a negative impact on energy and material stocks,  hence, on stock indices. The news that oil producing countries have reached production peak has a negative impact.

A bad GDP data for the Eurozone also have negative effect on the stock market. GDP data for the Eurozone Q1 is 0.5%, with expectations for 0.6%

A drop in shares in Asia also have a negative impact on sentiment in Europe.

Futures and stock indices have reached support levels, which could support prices in the coming hours.

There is no reason to expect the deployment of more serious negative sentiment if the US data isn’t as bad.

 Varchev Traders

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