Spreadex Market Update
US markets fail to join European rebound; Volkswagen continues to bounce back despite crisis
A slight miss in the US flash manufacturing PMI was all the Dow Jones had to work with this afternoon, allowing US investors to belatedly dwell on the 6-year low Caixin manufacturing figure from China this morning, alongside the continued sticky situation the auto sector currently finds itself in. Tomorrow could provide a bit more direction for the US markets, with core durable goods orders, jobless claims, and, most importantly, a speech from Fed chair Janet Yellen. Said speech will (hopefully) shed light on where the central bank stands on the US economy and, in particular, the likelihood of a rate-hike in 2015.
In contrast to the disappointing US open, the European indices held onto their morning gains with remarkable vigour as Wednesday continued, with the DAX and CAC up just shy of a percent whilst the FTSE surged over 100 points as its mining stocks continued to rebound. Mario Draghi, for what it is worth, provided little of note in his testimony in front of the European Parliament, reaffirming the ECB would take the ‘necessary’ steps to enhance the monetary stimulus in the face of the worldwide economic risks currently threatening the region’s recovery.
And what of Volkswagen? Well, despite reports implementing the German government in the emissions scandal, increasing calls for the dismissal of CEO Martin Winterkorn AND the growing chance of a globe-spanning series of consumer claims, VW continued to rebound this afternoon, up around 5% and a solid 17 euros away this morning’s disastrous (if deserved) session lows.
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.
