Spreadex Market Update
Quiet Thursday afternoon sees commodities dictate direction once again
A damp squib of a US open, with a 3 month high jobless claims figure (at 282k) countered by a better than anticipated import prices number (complete with upward revision for last month), left the Dow Jones only 35 points higher this Thursday. Gains for Chevron and ExxonMobil likely led the index into the green, continuing the week’s commodity-driven trading as investors (not so) patiently wait between last Friday’s non-farm jobs report and next Wednesday’s potentially year-defining FOMC meeting.
The FTSE wasn’t so lucky this Thursday, the general redness of its own commodity stocks pushing the index down by 50 points as the day continued. Of course the UK index wasn’t helped by the huge losses for Sports Direct, which shed around £500 million in value as it both (slightly) missed analysts’ half year expectations and, more damningly, saw its working conditions exposed as ‘gulag’ like in The Guardian. The Bank of England, meanwhile, provided investors with more of the same, unchanged rates and a lonely hawk in the form of Ian McCafferty.
Things should be slightly busier tomorrow, with German inflation data kicking off the European session before Italian industrial production and UK consumer inflation expectations numbers are revealed later in the morning. The afternoon then sees the US retail sales, PPI and preliminary UoM consumer sentiment figures, a few of the final major figures released before next Wednesday’s Fed get together.
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.
