Spreadex Market Update
FTSE still limp despite services boost, US awaits ADP non-farm, Tesla in focus
Pre-game nerves have clearly hit the FTSE with investors having no way to ignore the looming election tomorrow. This meant that strong performances from the FTSE’s commodity stocks, alongside robust gains for Supergroup, up over 7% after the clothing company beat analysts’ expectation and reaffirmed its full year targets, and Weatherspoons, which was up over 4% despite a slowdown in sales growth, couldn’t help elevate the UK index. Elsewhere, Sainsbury’s decline began to widen as the day went on, falling by nearly 3% after this morning’s first loss in a decade as investors gradually decided that living well for less currently isn’t working for the orange supermarket.
With the Dow Jones dipping below 18000 once again last night, the US futures are looking slightly healthier this morning ahead of a busy afternoon of data. The main focus will be on the ADP non-farm productivity figure, an indicator of Friday’s all important government released non-farm number, as the jobs sector continues to be a key cog in the Federal Reserve’s rate-hike deciding machine. The usual messiness is likely to occur after the figure is released in regards to the behaviour of the dollar and the Dow, with investors alternately pleased by a hike-delaying figure and dismayed by the realities of the weak jobs data.
The eccentric Elon Musk’s Tesla Motors is the big earning release of the afternoon, revealing its first quarter results after the bell. Tesla disappointed with its full year results back in February, but the signs are currently positive for its release later today. The company saw rapid growth in April after the announcement of record motor sales for the first 3 months of 2015 alongside a lot of investor excitement following the reveal of its home electric battery the Powerwall, leaving Tesla marginally in the green ahead of its results.
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.
