The Dow Jones avoided the losses seen in Europe thanks to Apple (NASDAQ:AAPL), which hit $198 per share after climbing 4%.
Though the Dow only rose 30 or so points after the bell that was nevertheless far better than what the likes of the FTSE, DAX and co. managed on Wednesday, with the latest bout of trade war terror causing chaos over in Europe. That mild growth allowed the US index to tease 25450 once again, with the Dow around 150-ish points away from last week’s 5 month highs.
The dollar, meanwhile, managed to nudge 0.1% to 0.2% higher against the pound, euro and yen, the greenback perhaps tentatively hoping for a hawkish tone from August’s Fed meeting. The central bank recently incurred the wrath of Trump, the President criticising the strength the Fed’s 2018 interest rate rises have given the dollar, so it’ll be interesting to see whether Jerome Powell and his FOMC peers signal there are still 2 more hikes to come as expected this year.
Elsewhere, the FTSE remained a deep shade of red as Wednesday went on, the index plunging around 100 points as its trade war-fearing commodity stocks dragged it lower. The DAX, meanwhile, fell back towards 12750 after dropping half a percent, but with the CAC holding above 5500 following a 0.3% decline.
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."