Stocks To Open Sharply Lower Tuesday

U.S. Stocks are set to open significantly lower Tuesday morning after China reported slower economic growth than previously estimated. Dow Jones Industrial futures are lower by over 110 points as of 8:45 ET, while S&P 500 futures are lower by 14. This equates to 1% losses across the board.

China has been one of the bright spots in the global economy in the last year, but its stock market has plunged sharply, suggesting that the Chinese economy is set for a more significant slowdown. This would put a big dent in the global economic recovery prospects.

For daytraders, this lower open will signify a breakout from the trading range of the last two trading days. This could imply a significant move to the downside, so the easier money should be made on short positions.

Scott Cole
www.bestdaytradingstocks.com