Dow Jones and S&P 500 Rally on Positive US Housing Data
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UK Market Comment, 20 December 2011
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close, the FTSE 100 looks to finish the day in a much stronger frame than it started, up around 55 points.
Are we finally hearing the jingling sleigh bells of the much-hoped for Santa rally?
It seemed this morning as if today would be another quiet day for UK markets, even with improvements in German confidence figures and a big drop in Spanish bond yields.
However, things got a lot more exciting around lunchtime, when US housing figures came in above expectations, showing good growth for this long-dormant market.
As a result, the expected strong start for the Dow Jones was given an extra injection of festive spirit, and Wall Street dragged the somewhat miserly FTSE with it.
With the time before Christmas steadily decreasing, and volumes dropping as people become consumed with festive events, it would not be surprising to see these gains continue until the weekend as traders put aside their various cares and woes.
However, this could make the start to 2012 all the more testing, as yuletide goodwill dies away, to be replaced with the uncomfortable knowledge that the problems of 2011 have not been left behind.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Dow Jones, where to find free charts, live pricing, how to trade etc >> Dow Jones Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index » "With IG Index you get all the normal advantages of
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UK Market Comment, 19 December 2011
Closing comments from Chris Beauchamp, Market Analyst, IG Index:
Heading into the close, it looks set to be another down day for UK blue-chips.
Indices spread betting markets have had reasonable volatility today, with the FTSE 100 positive for about half the session.
But ultimately, once again investors' nerves have crumbled and the nine-day downtrend for the market has remained intact, with bankers and mining shares leading the way lower.
Adding to the overall uncertainty was the death of the North Korean leader Kim Jon-il. However, even without this, investors have the ever-present spectre of European political procrastination regarding the debt situation to give them a reason to not hold positions for too long.
This time of year is very susceptible to strange market moves due to the lack of volumes in the run up to Christmas.
As such, an impressive 'Santa rally' cannot be completely ruled out in the next few days, but with so much negative opinion regarding Europe it does feel as if the bullish investors have already shut up shop for the year.
Perhaps they are keeping their powder dry on the off chance that the beginning of 2012 may be different.
How and where to spread bet on:
Indices, where to find free charts, live pricing, how to trade etc >> Indices Spread Betting
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index » "With IG Index you get all the normal advantages of
Spread Betting plus 8000 markets, narrow spreads, advanced charting,
24 hour spread betting ..." » read
IG Index review.
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'Dow Jones and S&P 500 Rally on Positive US Housing Data' edited by AG, updated 20-Dec-11
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