4.8.12 Middle East Markets: Mixed but generally Down

by John Galt
April 8, 2012 11:00 ET

The anticipation building up for the open of U.S. futures tonight is highlighted by the action in the Israeli and Arab markets which were open for trading today. In lieu of the non-farm payroll data, the theory is that there will be a decent sized plunge at the open of the US markets.

The Saudi market probably illustrates the pattern the S&P 500 and DJIA will probably take; a sharp dive at the open with an afternoon recovery as the Saudi TASI did today dropping 1.84%:

Meanwhile, in Israel, the markets plunged, recovered, then rolled over at the close but finished with only a 0.70% decline:

Overall, the markets in the region were quite mixed thus providing no clear direction for tonight’s futures action or US equities tomorrow (Data from BTFlive.net):

When the US futures open, things will get very interesting this afternoon as Japan and China might provide some direction for tomorrow’s markets also with their economic conundrums causing disruptions in financial markets worldwide also.

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