Option Millionaires

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World markets still unable to find stability overnight
The global equity markets are off to a mixed start this morning. S&P Futures are down about 10-points in the early stages but trading in the middle of the range. The overnight range was fairly wide with a high of 2814.75 and a low of 2800.25. The fact that futures managed to hold the 2800 level thus far is a constructive sign, but it seems clear the markets are struggling to find direction.
Asian markets saw selling pressure pick up on Thursday with China down nearly 3%, while Japan fell 0.8%. The weakness in China may have stemmed from any one of several themes that has soured sentiment on Mainland markets. First, investors may have been fearful of US' pull out of a postal treaty that would no longer enable China to benefit from discounted shipping rates. Also, the yuan hit a 2-year low, causing concern around the financial stability. In Japan, the weakness in China seemed to keep investors from getting overly enthusiastic. On a positive note, financials managed to rise despite the otherwise broad based weakness.
The major EU bourses are higher, but little changed, thus far. Automakers continue to remain in focus, attempting to gain back some of yesterday's losses. Both Volkswagen and Daimler are trading over 1% on the day