* European shares seen down slightly
* German industrial orders drop unexpectedly
* Asian shares subdued after Trump address
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MINOR PULL BACK IN SIGHT, EARNING DOWNGRADES, POOR MACRO (0726 GMT)
Stock index futures are pointing to slight declines for European shares following a stellar
rally in the previous session when the pan-regional STOXX 600 benchmark shot up 1.3 percent to
its highest level since Nov. 14, shrugging ongoing downgrades to earning estimates and more
gloomy economic data.
Data has just shown that German industrial orders fell unexpectedly on weak foreign demand
in December, in a further sign that companies in Europe's largest economy are struggling with a
slowing world economy and trade disputes.
It seems that much of the negative news has already been priced in during last year's brutal
Here's your futures snapshot:
EUROPEAN BOURSES ON THE BACKFOOT AHEAD OF THE OPEN (0633 GMT)
Frankfurt's DAX to lose 6 points and Paris' CAC to edge 12 points down.
Nigel Green, CEO of deVere Group, wrote that Trump's State of the Union speech markets was
unlikely to move markets given that "there were no major surprises for investors", like
declaring a state of emergency to fund the Wall or a trade breakthrough with China.
"As such, the markets will pretty much carry on as before", he reckoned.
In Asia, stocks were subdued on Wednesday after the speech.
slightly down at the open.