Spreadex Market Update
US Q1 GDP revised up to 0.8% at annualised rate, Yellen speech still to come
With the US first quarter GDP second estimate matching forecasts at an annualised rate of 0.8% (up from the initial 0.5% reading) countered by the unexpected downward revision to the consumer sentiment number (slipping to 94.7 from 95.8) there was little for the Dow Jones to do after the bell, the index ticking around 30 points higher. Still to come is a speech from Janet Yellen, with the dollar especially interesting in if the Fed chair has anything hawkish to saw about next month’s central bank meeting.
The FTSE continued to flit about the 6260 mark, Brent Crude’s slide below $49 per barrel ruling out much of a rise from the UK index. The Eurozone was similarly lifeless, the DAX and CAC capping off the week by spending most the day fairly flat.
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