Indices Spread Betting: DAX 30 Tumbles as US ADP Data Drops
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UK Market Comment, 2 May 2012
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close, the FTSE 100 is set to surrender almost all of yesterday’s gains as a result of a weak US employment report.
A fairly somnolent morning session gave way to a more dramatic afternoon, as the precursor to Friday’s Non Farm Payrolls provided a nasty surprise.
It had been hoped that today’s ADP figure, the private sector counterpart to the official government number, would show growth of 170,000 jobs during April.
Although this would have been lower than the March number, it still lies within the broadly respectable range that we have come to appreciate so far in 2012. However, the actual number was a far less ebullient 119,000.
When combined with this morning’s worrying Eurozone data, which raises the unnerving prospect that contagion is seeping irretrievably into the strong Teutonic core, today’s US job numbers do little for risk appetite.
Crucially, they don’t exactly set up a positive outlook for Friday, and while there is the possibility that Non Farms will beat expectations, the mood until then is likely to remain firmly downbeat.
How and where to spread bet on:
DAX 30, where to find free charts, live pricing, how to trade etc >> DAX 30 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
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UK Market Comment, 1 May 2012
Closing comments from Chris Beauchamp, Market Analyst, IG Index:
Heading into the close, the FTSE 100 is up around 65 points, after springing into life following strong US manufacturing data.
The still calm of the day's session was shattered during the afternoon, when the US ISM manufacturing report for April was released.
Data showed that the index jumped during the month to 54.8, well ahead of the forecast reading, and its strongest level since June of last year.
The news was sufficient to cause US indices to recoup the small losses incurred earlier in the session, and when combined with this morning's reasonable China data, was enough to prompt an impressive afternoon rally in London.
The vast majority of London's leading index was in the blue, although BP and Man Group continued to struggle following weak corporate updates this morning.
Today's US data helped to shake off some of the wariness among investors that had persisted in the wake of weaker GDP figures last week.
However, the countdown to Non Farms on Friday now begins in earnest, with ADP employment numbers tomorrow setting the stage for the fun later in the week.
How and where to spread bet on:
S&P 500, where to find free charts, live pricing, how to trade etc >> S&P 500 Spread Betting
Wall Street, where to find free charts, live pricing, how to trade etc >> Wall Street 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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Risk Warning: Financial Spread Trading and CFDs carry a high level of risk to your capital. You may lose more than your initial investment. They may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
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'Indices Spread Betting: DAX 30 Tumbles as US ADP Data Drops' edited by AG, updated 02-May-12
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