The US Stock market experienced a negative opening Monday in the absence of any US data. Beginning with the indices and composites, the NASDAQ fell -0.45% as it settles in region of 3165.15, up +14.10 points in these moments. In addition, the S&P 500 is trading in negative territory, operating at 1503.28, descending -9.65 points or -0.64% at the time of writing. Finally, the Dow Jones has moved lower at the opening as well, trading in the zone of 13915.75, presently -0.67% after an fall of -94.04 points.
Sectors are all trading in the red at the opening, however the Energy and Financial sectors have distinguished themselves as the losers thus far, falling -1.24% and -0.91% respectively. In other news, the price of crude has settled above USD $96.33 Monday.
In Italy, ex-PM Berlusconi attracted some weekend headlines as he offered a series of tax cuts including repealing and refunding the controversial real estate tax which was imposed by Monti last year. “As the countdown to 24th-25th elections begin, our European economists highlight that although current opinion polls still suggest a compromise between the center-left coalition and Monti's center is the most likely post-election outcome.” predicts the Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.