Wall Street recovers from early declines, US100 tests 15,500 pts

Equity markets have caught a bid in the afternoon and made some decent gains over the past 2 hours. US indices recovered after a lower opening and now all major Wall Street indices trade higher. European index futures also gained after the close of the cash session on the Old Continent with DAX futures (DE30) climbing to the 16,000 pts area.

Gains on Wall Street are driven by tech companies with Nasdaq recovering a 0.5% drop at opening and trading 0.3% higher now. Dow Jones adds 0.1% while S&P 500 and Russell 2000 trade flat. There was no positive news offered recently that could justify those moves. Having said that, it looks like investors may be positioning themselves for a positive surprise in tech earnings after market close, especially from Apple (AAPL.US) and Amazon (AMZN.US). 

Take a look at our earnings previews for Apple and Amazon.

US100 bounced off the 15,360 pts support zone and is now testing resistance in the 15,500 pts  area. Source: xStation5