Spreadex Market Update
FTSE and DAX recover from early reticence, whilst Dow Jones set to push above 17800
Whilst, remaining unchanged at 54.2, the UK construction PMI didn’t provide the FTSE with any cause for celebration, neither did it indicate too much cause for concern, allowing the UK index to stretch out its legs and managed a 45 point rise as the morning continued. This despite a still shaky situation in the commodity sector, both Brent Crude and copper seeing worrying, if slightly improved, declines.
Things were even better in the Eurozone; with the region’s unemployment rate falling to a 4 and a half year low of 10.3% in February investors could ignore the meagre rise in Sentix investor confidence and a widening decline in PPI, allowing the DAX to hit an 100 point increase as the day went on.
Following last Friday’s late surge, the Dow Jones is set to continue its post-17800 climb this Monday, the futures suggesting a 40 point increase at the open. It is a potentially big month for the US index; whilst it has 18000 (and effective all-time highs) in its sights April provides the Dow with more than a few imposing obstacles, including the latest inflation figures, the first Q1 2016 GDP reading, and a Fed meeting that is sure to inspire some market drama. Today is slightly less exciting, however, the US factory orders (expected to plunge to -1.5% from last month’s 1.6%) the only number of note.
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