Spreadex Market Update
Dow Jones looking at stagnant open ahead of FOMC statement this evening
A decent morning for the UK oil stocks, despite Shell’s announcement last night (ahead of its third quarter results tomorrow) that it will take a $2 billion write-down charge in relation to the cancelling of its Carmon Creek oil sands project, and maintained growth from the likes of BT, Bwin and British American Tobacco allowed the FTSE to creep up by around 20 points as the day continued.
The Eurozone saw similar gains UK index; with investors appearing to look at Volkswagen’s decent sales projections going forwards rather than the horror-show that was the losses and charges related to its emissions scandal, the beleaguered car-giant saw some DAX lifting growth, leading the German index around 50 points higher.
If the European indices are posting some mild gains, then the US markets are looking much more tentative ahead of this evening’s FOMC statement. Whilst it would be hard to find anyone in the world expecting a rate-hike this month, investors still seem wary of this clarity-lacking Fed, leaving the Dow to face a stagnant open this afternoon.
The US index’s movement could be based on how Apple fares this Wednesday; its fiscal fourth quarter results yesterday evening saw a 22% increase in revenue to $51.5 billion (above expectations) the biggest chunk of which coming from the sale of 48 million iPhone units (just below forecasts). It was a solid set of figures from Apple; not the China-damaged quarter some were expecting (with the region’s revenue nearly doubling to $12.52 billion), but far from the record-breaking business investors have come to demand (though, if Apple’s own guidance is correct, it could see a return to form after Christmas).
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
