Spreadex Market Update

Strong US open, as Europe maintains morning gains



The Dow opened strong this afternoon, up 52 points at the bell, it has now opened in the green for 7 of the last 8 days.

The S&P is hoping to follow in a similar fashion, currently fighting to be up for 8th session in its last 10, it is currently at 4231 (+0.03%).

The FTSE has managed to maintain the gains of the morning session off the back of strong performances from housebuilder stocks.

With Persimmon, Barratt Development and Taylor Wimpey all up 2.8%, 2.3% and 2% respectively, the FTSE has managed to hold onto its 20 point gain on the day.

This comes alongside news that UK house price inflation has reached a 7-year high, giving further hints that the MPC will have to take a deep look into increasing interest rates come its 24th of June announcement.

The CAC and Dax have both continued the gains of their morning sessions, with the Dax up 0.12%, and the CAC looking to finish a very strong afternoon (+0.5%).

It has also been a positive Monday for cryptocurrencies. Both Bitcoin (+1.55%) and Ethereum (+4.45%) find themselves in the green this afternoon, this in light of the Bank of England’s announcement that it will discuss the regulation of ‘stablecoins’.

We are a long way from cryptocurrencies being used in day-to-day life, but this news is crucial step for the integration of digital currencies into mainstream society, a positive for all long-term crypto investors.

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