Spreadex Market Update
FTSE and DAX continue end of week rebound, Dow Jones set for limp open
After all the mid-week madness Friday is wrapping things up fairly quietly (though one imagines the European indices are appreciative of the respite ahead of next week’s EU referendum intensity). The FTSE held onto its 1% rise, just pushing above 6000, while the DAX slowed down slightly, settling for a 90 point increase as the day went on. There hasn’t really been much to spark this morning’s climb; today’s rebound is likely just another instance of volatility in the run up to the referendum, rather than any real chink of light in the Brexit-fearing clouds that have begun to hang over the market.
The relatively empty economic agenda extends into this afternoon, with the US session throwing up the building permits, housing starts and not a lot else. Ominously the Dow futures are proving to be reticent about joining in with the European gains, the US index instead looking at a 15 point fall at the open. It will be interesting to see whether this US meekness weighs on the FTSE and DAX once the bell rings on Wall Street, or whether the UK and German indices will march on with their rebound regardless.
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