Spreadex Market Update
Election excitement fades as investors eye tough path for Macron
"Looking to the US open and it appears that the Dow Jones is going to continue to struggle to substantially break the 21000 mark it rose to in anticipation of Trump’s tax plans back in April."
It appears that investors are now not assessing not who will lead France, but what the leader of France has to contend with, a list that includes June’s parliamentary elections and the still-present force of Le Pen and the millions of discontents that voted for her. And that’s not to mention the security concerns and economic woes that plagued Hollande’s presidency.
After a slow start the FTSE has managed to outperform its Eurozone rivals, rising 0.3% to re-cross 7300. This growth comes despite a wave of losses in its copper-dragged mining stocks and sterling’s aforementioned gains against the euro.
Looking to the US open and it appears that the Dow Jones is going to continue to struggle to substantially break the 21000 mark it rose to in anticipation of Trump’s tax plans back in April. The futures are forecasting the Dow will dip by 15 or so points after the bell, with little in the way of data, or positive vibes from Europe, to push it back over that landmark level.
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