Spreadex Market Update

Shaky open for US as Bitcoin plummets



A great start to the week looked to continue for the US, with both the Dow and S&P futures in the green this morning.

However, the Dow and S&P 500 both opened in the red, halting their successful open records.

With the Dow down 0.14%, and the S&P 500 fighting to stay level, both indices are going to need a strong afternoon performance to maintain the momentum they’ve gained over the last week.

What was looking like a mundane performance from Europe this morning has elaborated into a decent afternoon, as the FTSE breaks 7105, followed by the CAC, up 0.32%.

The Dax, even though up 0.08%, on paper looks like a poor performance in contrast, but taking into account Germany’s announcement that their industrial output has fallen 1% in April, the Dax has competently weathered the storm surrounding this news.

Antithetically, cryptocurrencies after a strong showing yesterday have manged to undo their previous positives, with Bitcoin down 10.48%, and Ethereum down 11.98%.

Numbers that should be staggering for a single day’s performance, are no longer a shock to those of us invested in the crypto universe. If anything, a volatile drop after a good previous day is now something to be expected in this anomalous market.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Weekly Trading Update

Trading Week Ahead

Read More

Financial Trading Blog

UK Stocks Set Stage for Comeback

Read More

Daily Market Update

20.12.24 Friday Morning

Bitcoin soared 130% in 2024, hitting all-time highs due to favourable policies under the incoming Trump administration....

Read More

Economic Diary

20.12.24

Read More

Daily Market Update

19.12.24 Thursday Afternoon

UK equities present a mixed picture heading into the festive period, but certain sectors might outperform next...

Read More

Daily Market Update

19.12.24 Thursday Morning

The yen hit a one-month low against the dollar after the Bank of Japan held rates steady and provided no new guidance...

Read More

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.