Spreadex Market Update

Global headline indices are trading lower yet again



Global headline indices are trading lower yet again, breaking the trend of investors buying into the dips. The FTSE 100 is now at a 7 week low, disappointing investors who had been banking on a rise in the index this month. The FTSE 100 has risen in all but two of the last 20 Decembers, but with the index already trading up 10.6 percent in 2013, traders are in a more cautious mood. Additionally, European stocks have fallen for a fourth consecutive session making this the longest run of losses since June. It would seem that we could be entering a period of consolidation for equities.

 

In a boost for market participants U.S. companies added 215 thousand jobs last month, the most since January, according to today’s 13:15 ADP Non-Farm Employment Change.  The Federal Open Market Committee meets December 17th-18th to discuss policy after minutes of their last meeting in October showed officials may reduce their $85 billion of monthly bond buying should the U.S. economy improve as anticipated. The Fed is scheduled to release its Beige Book report on economic conditions in its 12 districts today.

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