Spreadex Market Update
Dow dampened by hawkish comments from Atlanta Fed President Lockhart
A slight improvement in the US import prices did nothing for the Dow Jones, be it good or bad, leaving it to start the American session with a meagre 30 point increase (though that still leaves it above the 17000 it nobly recaptured yesterday evening). The Dow likely wasn’t helped by Atlanta Fed President Dennis Lockhart stating that an October or December rate-hike lift-off was ‘likely appropriate’, the kind of hawkish comments the markets didn’t want to hear less than 24 hours after they had surged on a seemingly dovish set of FOMC meeting minutes.
The FTSE fell back from its session highs as the week began to wrap up; whilst its mining stocks continued to strike gold, the fact that Brent Crude fell back to $52.50 per barrel ate into the gains in the oil sector. Add onto this a tumble by Sports Direct, as it was announced that CEO Dave Forsey has been charged with a criminal offence in regards to his handling of the USC administration, and the UK index failed to improve on the solid 40 point increase it has seen since the start of the day.
The Eurozone indices were slightly more resilient to the disappointing US open, with the DAX holding on to its 100 point jump, allowing it to keep its head above 10000. The CAC, meanwhile, just about clung onto its 4700 level after the morning’s strong French industrial production figures had given the index an extra boost.
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.
