Spreadex Market Update
Trading remains thin
However, the few investors still willing to trade the markets were clearly bullish as the remaining open markets traded positively.
Thus, it seems these scarce investors have preferred to build on positive news from European stocks, including BP which has today announced a big dividend increase, instead of focusing on the potential financial consequences of Hurricane Sandy.
Bears on the other hand would quickly point out that one of the most destructive Hurricanes in US history, Hurricane Katrina which occurred in 2005, managed to hamper the nation’s growth by 1%.
Therefore, although Hurricane Sandy at this point is not as devastating as Katrina, the US is in a far worse economic position now to deal with the financial consequences of a major Hurricane compared to in 2005.
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