Spreadex Market Update
European indices remain in the red with potentially loss-filled US open to come
Still under 6100 by around 15 points, the FTSE maintained a 30 point loss as the day went on; the DAX, meanwhile, managed to shrink its decline to around 40 points, whilst the CAC sat steady at a 30 point dip. It appears that a combination of commodity fears, and the prospect of a negative US open, is weighing on investors’ minds, wiping away whatever good feeling had greeted the confirmation of a US rate raise.
Looking to that US open and the Dow Jones is facing a 100 point drop when things kick off this afternoon. Like in Europe there is painfully little going on in the US this Friday, meaning that whatever commodity-fearing sentiment that took hold of the US markets yesterday evening looks likely to continue into Friday’s American session. If anything things may become worse as the day continues, with the morning’s commodity rebound looking like it may not be able to last, Brent Crude’s gradual tumble into the red (the instrument worryingly dipping below the $37 per barrel mark) already taking with it a few of the sector’s more loss-susceptible stocks.
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