Spreadex Market Update
New Year lull could end today as investors look ahead to 2014.
The New Year lull could be about to end today, after riding upward momentum of the particularly strong end to 2013 investors seem to have been cashing out until they have a greater feel for what 2014 will bring. US futures stirred today rising around 30 points with most investors waiting keenly for Fed Chairman Ben Bernanke to speak today at 7pm. This speech is likely to trigger volatility in the markets as investors gain a better understanding of the state of the economy which could see investors piling back into equities.
UK markets were dragged higher today on the back of retailer Next and their strong Christmas sales. The FTSE 100 currently up almost 20 points and is expected by many analysts to push on to record highs of 7,000 points in the second quarter. Economic data results for UK markets were slightly negative today with Construction PMI, Net lending to individuals failing to beat forecasts. Mortgage approvals however were better than forecast. This comes at a time when views on the housing market are mixed with a growing fear that the success of the help to buy scheme could be generating a housing bubble. This sentiment does not appear to be reflected in the markets as they continue to tick up.
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