Spreadex Market Update
Dow Jones managed to swing its losses into a gain
The Dow Jones managed to swing its losses into a gain by late afternoon trading as weak GDP data pushed the futures lower prior to the market open. Wall Street is now currently trading up 50 points whilst European indices still lag despite pulling back slightly once US markets began to trade.
First quarter GDP in the US shrunk 2.9% and Core Durable Goods Orders also fell 0.1%, both unexpectedly and hence the futures began to fall however investors overlooked this data and drove the index higher once the markets were open for trading.
Looking ahead to tomorrow, we have Bank of England Governor Mark Carney speaking at a press conference about the financial stability report in London at 10:30am. American unemployment claims are then to be released later in the day, expected by consensus to come in at 314k.
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