Spreadex Market Update
Corporate earnings the main theme of the week
Corporate earnings seem to be the main theme of the week as the Dow bounced with positive news as Apple posted positive earnings, this bullish trend did not falter yesterday evening despite poor results from McDonalds and Coca Cola, the latter posting revenues at $11.15bn below the forecasted $12.15bn. Investors remained positive as housing data was above expected and the Dow closed up around 200 points at 16615. Boeing will be announcing their earnings before the Dow opens this afternoon however macro conditions in the economy seem to be overriding these results, whether they are positive or negative, for now.
ECB announced stimulus yesterday evening moreover US tech results shone resulting in Asian shares reacting positively. The Nikkei rose 2.1% yesterday on the back of positive global policies from the EU, trading around 15190.
In addition the FTSE has recovered from a 15 month low last week closing up 1.7% and looking to open up around 10 points this morning at 6379. European bourses look to extend the upward trend this morning as investor’s react to EU bond purchases and hence the stabilisation of growth within the EU.
Finally commodities seem to be shaking off a couple of weeks of falling prices as Brent oil looks to break the $88 mark in the near future and gold pushing the $1250 mark which was breached briefly yesterday. However silver still seems to be lagging behind struggling to reach the $18.00 that many investors believed is the next level to look at.
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