Spreadex Market Update
DOW REACHES NEW HIGHS AFTER BELL
There has been strong movement in all major markets this afternoon. The Dow Jones was up over 150 points - even breaking the 21550 mark - DAX up over 200 points and the FTSE also going well up over 100 points.
The Dow has responded incredibly well to Fed. Chair Yellen’s words earlier in the afternoon, as she expects the US economy to continue expanding which will leave the central bank free to continue to raise interest rates. She also stated that the Fed. Will keep monitoring inflation developments closing, and labelled low inflation as the main cause for uncertainty.
Elsewhere, crude oil inventories were released, at a much higher deficit than expected (-7.6M compared with -3.2M expected). The price of oil dropped after this news and has led to all earlier gains made by Brent Crude and Light Crude being wiped out (Light only up 0.1%, Brent down 0.3%).
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