After the Dow Jones once again crashed before closing time on Monday, unable to cling onto the session’s intraday record highs while also failing to finish above 30,000, the markets struggled to really get going on Tuesday.
For the second day in a row, the FTSE drearily stumbled out of the opening gate, at best adding a handful of points, keeping it the wrong side of 6,550.
This came despite the pound chipping away at the remains of yesterday’s rally, the currency spending Monday shedding its initial relief until it was left with the cold hard facts about the ongoing likelihood of a no deal Brexit.
For both FTSE and sterling alike the mood was dampened by news of a record number of redundancies in October, as hundreds of thousands were let go before the government’s last-gasp U-turn regarding the furlough scheme.
The Eurozone indices fared better. The DAX was back above 13,300 followed a 0.5% increase, while the CAC stuck its nose past the 5,550 mark.
As for the Dow Jones, it should return to the comforts of 30,000 this afternoon, with the futures pencilling in a 160 point rise, in spite of the USA’s covid-19 death toll topping 300,000.
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