This morning the S&P 500 futures(ES H1) are trading higher by 2.25 points to 1316.75. The small up-tick in the market comes after yesterday's high volume broad based sell off. Often after a large rally or large decline the following trading session is much more subdued.
Libya and other nations in the Middle East and Africa have continued to revolt against the current governments. The economic problems in the European Union are also being overshadowed by the Middle East uprising. Traders and investors must follow the global markets very closely as each economy effects the other these days.
Last night the highly followed Shanghai Index traded higher by just 7.0 points. However, the Hang Seng Index(Hong Kong), Nikkei 225(Japan), and the Sensex(India) all finished lower by less than 1.00 percent. This type of action should not effect the leading commodity stocks as it has over the past few sessions.
Some commodity stocks that will be in play today are AK Steel Holdings Corp.(NYSE:AKS), and U.S. Steel Corp.(NYSE:X). Both companies reported their annual 10-K form and these stocks are trading slightly higher before the opening bell at the New York Stock Exchange.