Volatile European Market Could Be Down on Thursday
On Tuesday, the renewed hopes for additional Greek aid had helped lift markets across Europe. Earlier the brooding debt problem in Greece had led to a fall in the stocks around the world. The Dow Jones industrial average was dropped four straight weeks, its longest losing line since February 2010.
On Tuesday, Germany's DAX index rose 1.9%, France's CAC 40 index gained 1.5% and Britain's FTSE 100 index rose 0.8%. The euro rose against the dollar. The positive market also pushed up crude oil prices. Futures climbed $1.65 to top $102 per barrel, helping to lift energy stocks in pre-market trading. Oil and gas producer Occidental Petroleum Corp. gained 1.6%.
Besides the aforesaid gains, Dow Jones industrial average futures rose 99 points to 12,527. S&P 500 futures gained 11.30 points to 1,341.20. Nasdaq 100 futures rose 22.25 points
However, on Wednesday, the US stocks suffered their biggest decline since the middle of last year as the slew of downbeat economic reports prompted fears the economic recovery would reciprocate. The Dow Jones Industrial Average (DJIA) closed down 279.65 points, or 2.2%, to 12290.14, the biggest point drop since June 4, 2010. Therefore, the market experts are of the opinion that on Thursday, European stocks may fall.
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