OVERNIGHT MARKETS ROUND UP – 07/05/14

European futures are indicating a lower open, following losses on Wall Street yesterday evening. It seems investors have once again started to questions valuations, sending the markets lower. Investors will be focusing on Federal Reserve Chairwoman Janet Yellen, who is scheduled to testify to a congressional panel later, for any reassuring comments on the economic outlook. Recent data has suggested that the US economy is now recovering following the winter slowdown due to the bitter weather. 

Twitter was in free-fall during yesterday’s trading, sliding by more than 18 percent as insider shares became eligible for sale.  Stirling has found great resistance against the dollar at the key $1.70 level. The strengthening British economy has helped the currency climb to fresh 5-year highs.