Spreadex Market Update
European indices trading tight as FTSE 100 underperforms.
U.S stock index futures are little changed after the Dow Jones closed above 16,000 for the first time last night. This major milestone was achieved after data showed improvement in the job market and consumer sentiment. For the first time in a while, good macroeconomic figures have been welcomed positively suggesting that the markets health is no longer dependant on QE. The S&P 500 closed at 1,795.85, near last week’s all-time high of 1,798.18.
Gold analysts are becoming extremely bearish on gold as the prospect of Federal Reserve tapering edges closer, cooling demand for an investment haven. The metal is heading for its first annual drop in 13 years with some investors losing faith in gold as a store of value. Bullion slumped 26 percent this year to $1,244 an ounce in London, reaching $1,236 yesterday, the lowest since July 9th.
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