Spreadex Market Update
European markets head into the afternoon in negative territory
European markets head into the afternoon in negative territory following the announcement from the Federal Reserve which showed a trim of $10 billion to its monthly bond buying program. Although this was largely expected, investors are using the opportunity to take risk of the table. US futures are showing a positive open following better than expected results from Facebook. Shares in Facebook were up over 16 percent in early New York trading after the results showed that almost half of its advertising revenue came from mobile devices.
Data from the US showed that US jobless claims increased more than forecast over the past week, climbing by 19,000 to 348,000. Adding to negativity, US GDP data came in slightly less than expected with the economy growing 3.2% versus the 3.3% expected. Although the figure didn’t meet expectations, the figure was the highest in three years, laying the ground for further improvement in 2014.
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