Political uncertainty drove the global market as well as US stock market down again as traders reacted to fresh political drama in Italy after a three-day weekend.  All the three major indices of US stock market literally slumped on the last trading sessions.


The recent spectre of a euro crisis that could undulate across the global economy and even pressure the Federal Reserve to slow its rate-hiking plans despite an improved U.S. economy. Concerns about a global credit blight and weak interest rates appeared to weigh on U.S. financial stocks on Tuesday, led the shares of the nation's largest banks to tumble. Citigroup, JPMorgan chase, Bank of America, Goldman Sachs all were down on yesterdays trading session.

Future market:
Italy’s stocks and bonds, as well as the euro, all are in improvement mode as well as US stock futures. Dow Jones futures advanced sharply on Wednesday, along with S&P 500 futures and Nasdaq futures, signalling a strong rebound after an immense fall on Tuesday.

The upcoming event today:

1.ADP Inc. employment report for May.
2. GDP Q1 update

US equity markets are largely positive this morning, but political uncertainty still looms.
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