This morning, the S&P 500 Index e-mini futures (ES Z1) are trading higher by 12.50 points to 1161.25 per contract. Earlier today, the German parliament voted to expand the European Financial Stability Facility (EFSF). This vote makes a bailout plan for Greece and the European Union one step closer to reality. At 8:30 am EST the initial jobless claims report was released, initial claims fell by 37,000 to 391,000 which was better than expected. The gross domestic product reading was also released for the quarter, the number was 1.3 percent which was also better than expected. While both of these economic numbers are a little bit of a surprise to investors we must still pay very close attention to the movement of the U.S. Dollar Index. As the U.S. Dollar Index declines the major stock indexes will inflate and trade higher. Generally, good economic news should not help to decline the U.S. Dollar Index, it should increase it as less stimulus should be needed.
