Spreadex Market Update
European markets have continued to fall
European markets have continued to fall with the FTSE 100 down 5 and the German Dax down almost 90 points during earlier morning trading on Thursday. Asian indices were marginally softer overnight, with the MSCI Asia trading 0.4 percent lower on disappointing earnings from Samsung. Sentiment remains a significant driver factor to the maturing global equity market.
The Dow Jones futures are indicating a much weaker open later this afternoon despite US Gross Domestic Product growing by a huge 4.0 percent, however we have seen no significant direction in markets and the Fed Statement released last night caused stocks to seesaw. The statement revealed that the Federal Reserve is to, as expected, reduce its monthly bond-purchasing programme by a further $10bn, bringing the total to $25bn per month. Investors will now be looking for any clues of an increase in interest rates which is becoming even more likely after yesterday’s strong GDP figure.
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