Spreadex Market Update
European stocks continue to trade in the red
European stocks continued to trade in the red, dropping from one-month highs as geopolitical uncertainty resurfaced. Investors reduced their exposure to risk after pro-Russian rebel’s widened their attack on Ukraine’s forces. US futures are indicating a lower open for US equities, with the Dow Jones showing a drop of 60 points. US jobless claims matched Wall Street estimates whilst US GDP showed a 4.2% gain, exceeding the 3.9% expectation. American investors will also be focused on US pending home sales data later this afternoon.
With the political unrest in Ukraine and Russia reappearing, this sent the price of Gold $13 dollars higher to trade just shy of $1300 an ounce as investors rush into the precious metal as a safe haven.
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