Spreadex Market Update
Grouchy US open leaves markets facing an inauspicious end to the week
Falling by 100 points the Dow Jones obviously didn’t have a good Thanksgiving; not that there was much to spark the index’s decline, the US providing nothing of any worth this afternoon. Perhaps investors, free of any cumbersome data, have mulled over the impending (if still only potential) December rate-hike and decided to abandon the Dow for now.
This meant that the DAX, the only index to really break ranks and climb into green, ending up being dragged back into the red by around 25 points whilst the CAC slipped by 7. The FTSE couldn’t escape either, the relative damp squib of this morning’s third quarter GDP reveal failing to outweigh the combined bearish pressure of a dismal US open and a continually bleak commodity sector.
Whilst the USA’s effective absence from Thursday and Friday has left the global markets floundering for any real direction, next week should be quite a bit different. Wave upon wave of data is released next week, leading up to Friday’s final non-farm jobs report before mid-December’s FOMC meeting. That jobs report should, barring some kind of last minute drama, give investors the clearest outlook as to what the Fed will actually do in regards to interest rates, something that will no doubt be appreciated even by the most dovish of investors.
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