Spreadex Market Update
Personal spending jump gives Federal Reserve hawks something new to work with ahead of June meeting
The headline success for those hawks in the central bank was the personal spending figure; from a downward revised 0.0% last month the number surged all the way to 1.0%, the highest reading in effectively 2 years. Joining that was a solid 0.4% reading for personal income and a jump to 0.2% for the core PCE price index, though they were countered by a negative territory level Chicago PMI (slipping to 49.3, its worst reading February) and a CB consumer confidence figure that, at 92.6, matches the low seen in November. So, not enough to ensure a rate hike in the coming months, but plenty of the hawks to play with, something that hit the Dow Jones and dragged it 40 points lower.
As for the FTSE and the Eurozone indices there was little change; the UK index dropped by 20 points while the DAX and CAC both slipped by around 0.2%. This was despite Brent Crude re-crossing $50.50 per barrel, with the black stuff’s rise failing to lift the commodity sector as a whole.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
