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US Stocks Look for Retail Sales as UK Markets Remain on the Edge of their Seat 0

Posted on September 12, 2014 by Frankie Lawson

It’s been a very quiet week in the financial markets and European indices are on course to end on a mixed note, while US futures are pointing to a slightly weaker open.

The FTSE and the pound are being well supported again today after the latest YouGov poll showed a u-turn in the voting on Scottish independence with 52% of people saying they would vote no.

While this isn’t exactly a huge swing in the voting, with the previous poll showing 49% against independence, the mere fact that its moved in favour of staying a part of the United Kingdom has brought some calm back to the markets.

The worst part of all of this is the fact that no one really knows what will happen if Scotland votes for independence and it’s that uncertainty that is freaking people out.

With the UK enjoying a strong recovery at the moment, especially compared to the US and the Eurozone, this is the last thing it needs.

Once this vote passes and the people of Scotland vote to remain a part of the UK, which I am sure they will, people can once again start to focus on the good news story that is the economic recovery.

US Recovery Still Reliant on the Consumer

The fresh batch of economic sanctions that the EU has imposed on Russia are likely weighing on sentiment today, which is probably largely responsible for the weaker end to the week.

We have already seen that these sanctions don’t only harm Russia, there are consequences for the countries imposing them, and while they are necessary, the markets do not respond well to them.

The US session today is likely to be another quiet one although there are a couple of notable economic releases for traders to watch out for.

The numbers give an overview of how the consumer has been spending of late and how they are likely to act going forward, so they are likely to be tracked very closely by traders and could have a significant impact on the markets.

The consumer is extremely important to the US economy and any drop is spending or confidence will be concerning.

As it stands, we’re expecting a 0.6% increase in retail sales and a rise in consumer sentiment to 83.2 which is very encouraging.

The US recovery has been very strong over the last six months and if it continues at this pace, the Fed will have to consider bringing forward its first rate hike.

We’ve already seen this week that investors are starting to price this in after rumours surfaced that the Fed will not release such a dovish statement next week, withdrawing its commitment to keep rates low for a considerable amount of time after the end of asset purchases.

If this does happen, we may well see further pricing in of an earlier rate hike.

The S&P is currently expected to open unchanged, the Dow down 3 points and the NASDAQ unchanged.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Chinese Stocks Slide as Central Bank Withdraws Liquidity Despite Dip in Inflation 0

Posted on September 11, 2014 by Frankie Lawson

A mixed morning in Europe is providing little direction for US markets ahead of the open, with futures currently pointing to a slightly softer open.

There wasn’t much more direction from Asia overnight, where Chinese shares ended the session lower on deflationary concerns and the People’s Bank of China’s decision to withdraw some liquidity from the financial system.

The latter appears to have been done to stem the recent strength being seen in the Chinese yuan which may be sparked by speculation.

Withdrawing liquidity at a time when people are concerned about inflation in the country, which fell to 2% in August, is not likely to be well received by the markets.

The drop in inflation was largely driven by volatile food prices and the number could therefore rebound in the coming months.

On a more positive note, the lower inflation figure does give the PBOC an opportunity to increase its targeted stimulus measures in the coming months which could help the country achieve the 7.5% growth target that some see it falling short of currently.

Pound Rises as Poll Swings Back to ‘No’

The FTSE‘s exposure to China is what’s weighing on the index this morning, but the pound is performing much better in the currency markets after polls showed that voting on the Scottish referendum had moved back in favour of the better together campaign.

The poll showed a six point lead for the ‘no’ vote which is a big change from the YouGov poll over the weekend which showed a two point lead for the ‘yes’ vote.

This change may suggest that some of those undecided voters have not been convinced by the lack of guarantees that the independence campaign offers, with the future currency, central bank, monarchy and membership in Europe up in the air.

Without assurances on any of these, I can’t see the majority voting for independence and I expect the vote to gap to widen on the voting before next week.

Announcements by RBS and Lloyds that they would move their head offices to London if Scotland votes for independence, as well as yesterday’s plea and offering from the UK government to the Scottish people to remain a part of the union is also likely to have swayed some people.

As has been the case for most of the week, the day is looking a little light on the data front. Initial jobless claims data is the only noteworthy release on Thursday and is expected to show another figure around the 300,000 market.

The S&P is currently expected to open 5 points lower, the Dow 44 points lower and the NASDAQ 9 points lower.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Apple Set to Unveil iPhone 6 but Can They Lift the Share Price to New Highs? 0

Posted on September 09, 2014 by Frankie Lawson

It’s going to be another quiet day in terms of economic data from the US on Tuesday, but fortunately there are other things that will certainly keep investors’ attention during the session.

They key talking point today is likely to be the launch of the latest products from Apple, the largest component of the S&P 500.

It is widely expected that Apple will unveil the iPhone 6 which will be available in a 4.7′ and 5.5′ display, both of which are larger than that of the iPhone 5S.

This is expected to come alongside the launch of the new iWatch which has apparently been in the works for a long time and Apple has not been the first to the market.

Can Apple Excite the Market?

The problem that Apple faces today is that under the leadership of Tim Cook, the company has had a tendency to underwhelm at these launches.

In the eyes of many, the tech firm has gone from an innovative company to a copycat that is more concerned with matching its rivals than leading the way.

This may explain some of the weakness in Apple’s share price in recent days which could leave plenty of upside potential, including a new record high in the share price, should Cook deliver.

I don’t think a new phone and iWatch alone will cut it as these are priced in.

There’s been rumours about other things that Apple could announce such as a new stronger sapphire screen for the iPhone, which is expected on the iWatch, that would make it more scratch resistant, and a mobile payments functionality.

This may appease investors a little but the one that has the potential to be a game changer for Apple would be the new battery that has been rumoured.

Users of smartphones have long complained about battery life and if Cook could deliver an iPhone with significantly better capability than its competitors, I think it would be enough to bring a large number back that have strayed in recent years.

This would surely excite Apple investors.

Carney to Discuss UK Wage Growth

Elsewhere we do have more data to come from the UK, with the NIESR GDO estimate for the three months to August being released.

This should give us an up to date idea of what growth we can expect to see for the third quarter, with the first month suggesting it’s likely to be a little weaker than we’ve seen over the last year.

We’ll also hear from Bank of England Governor Mark Carney who will talk in Liverpool on monetary policy.

Carney’s comments are always closely followed by the markets, especially as we near the first rate hike which is expected early next year.

With sterling currently suffering as a result of the Scottish referendum, it will need something very hawkish from Carney to significantly lift the pound.

The S&P is currently expected to open unchanged, the Dow 1 point lower and the NASDAQ unchanged.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Indices Dip as Scottish Poll Raises Uncertainty Over Independence and Tests Osborne’s Cool 0

Posted on September 08, 2014 by Frankie Lawson

The Scottish referendum has been the major talking point at the start of the week after a YouGov poll over the weekend showed the balance tip slightly in favour of the yes vote for the first time.

With just 10 days to go until the vote, this has clearly rattled index investors who until now didn’t appear to be too concerned about the outcome.

Of course, the voting was always expected to be close but I think people assumed that the lack of guarantees on key issues such as currency would be enough to stop the ‘yes’ campaign getting over the line.

Regardless of the poll results, I still don’t expect the majority to vote in favour of independence.

The poll showed 51% in favour and 49% against and didn’t include those who were undecided.

Traders React to Uncertainty

I believe the lack of certainty over the key issues works far more in the favour of the Better Together campaign when it comes to the undecided voters.

That said, it is very understandable that market participants are taking a more cautious approach to the referendum, especially when even more uncertainty exists in relation to what happens if the Scottish do opt for independence.

There’s still a lot of questions that need to be answered and no one wants to offer any.

George Osborne’s last-ditch attempts to bargain with those Scots supporting independence is unlikely to fill people with any more confidence.

Until now, the Conservatives have played it pretty cool when it comes to the vote, which would suggest the UK doesn’t stand to lose much if independence is granted.

This late attempt at bargaining from Osborne would suggest otherwise which may worry people that the recovery could be tarnished just before the election next year.

Chinese Trade Balance Sees Imports Fall

The markets didn’t get much direction from Asia overnight, despite some important economic data being released in both China and Japan.

The Chinese trade balance figure looked very good initially as the surplus hit record highs but it didn’t take much drilling into the numbers to see that all is not as great as it first appeared.

While exports were better than expected, the fall in imports appears to have had a greater impact on the overall trade balance and this is not what we want to see.

The US session is looking very quiet today with no economic data due to be released.

This means the major drivers for US markets are likely to be developments around geopolitical events, with the newly agreed ceasefire in eastern Ukraine already coming under threat after shelling was reported in two cities.

The S&P is currently seen opening 1 point lower, the Dow 24 points lower and the NASDAQ 4 points lower.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Central Bank Rate Decisions in Focus but the Real Action Will Surround Draghi’s Press Conference 0

Posted on September 04, 2014 by Frankie Lawson

We have a big day ahead of us, with the Bank of England and the European Central Bank announcing their latest policy decisions and the President of the latter conducting his usual press conference that seems guaranteed to shake things up in the markets.

On top of this we have plenty of economic data from the US, so there’s a lot to focus on as we near the end of the week.

The ECB will likely take centre stage today, not necessarily because of the policy decision itself but because of the press conference that follows 45 minutes after.

In all likelihood, the ECB will not announce any change in policy, having only announced a large stimulus package in June.

These things need time to filter through to the real economy and start to produce quantifiable results and a minor slowdown in the Eurozone economy in recent months is not going to be enough to pursued policy makers that it’s right to provide more stimulus.

Especially not when core inflation has risen to 0.9%, which eases any pressure there would otherwise be on the central bank.

As is quite often the case, it’s the press conference that has the real potential to move the CFD markets.

Mario Draghi likes to portray himself as a very dovish President that’s willing to stimulate whenever it is necessary and quite often, despite all of the scepticism, investors just lap it all up.

In reality, we should take anything he says that isn’t new, which is the majority of it, with a pinch of salt, but history would suggest that won’t happen.

US Data to Overshadow BoE Decision

The BoE decision is unlikely to cause much of a stir this month, but it is certainly one to watch going forward.

Last month was the first time since July 2011 that we haven’t had a unanimous vote against a rate hike, which has put investors on red alert that the end of record low interest rates is nigh.

I don’t expect the first rate hike to come this month, or this year for that matter, and because the BoE doesn’t release a statement or carry out a press conference, that makes today’s decision a bit of a non-event.

The real interest comes in two weeks when the minutes are released and we see if any more members favoured a rate hike.

Finally today we have an abundance of economic data being released from the US.

The ones that stand out for me are the ADP non-farm employment figure, weekly jobless claims and the ISM manufacturing PMI.

The ADP number is intended to be an estimate of Friday’s official Non-Farm Payrolls number but in reality it’s quite inaccurate and is instead used to gauge whether the number will fall well short of expectations or easily beat.

That is when we get a reaction in the markets.

Weekly jobless claims are always a focal point for investors as they provide weekly updates about the health of the US labour market and another solid report is expected, with the number seen around 300,000.

Finally we have the ISM non-manufacturing PMI which should provide insight into the health of the services sector in the US, which accounts for more than two thirds of US GDP.

The number is seen pulling back slightly to 57.5 but this is still comfortably in growth territory and a strong number so something in this region will be seen as a good number.

The S&P is currently seen opening 2 points higher, the Dow 18 points higher and the NASDAQ 2 points higher.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

US Markets Tread Carefully Ahead of Non-Farms Report and European Rate Decisions 0

Posted on September 02, 2014 by Frankie Lawson

Traders in the US return to their desk on Tuesday following the long bank holiday weekend, but it may be another 24 hours before things really start to pick up in the markets, with the second half of the week offering a whole lot more for in terms of major economic events.

The start of the week was understandably slow, given the significant drop in participation that can usually be associated with a US bank holiday.

While this should certainly improve today, there still isn’t a huge amount to look at that is likely to cause much of a stir in the markets, especially in a week that offers rate decisions from the Bank of England and the ECB on Thursday, and the US jobs report on Friday.

During these weeks, traders tend to tread with a little more caution because the kind of moves that we can expect later in the week make people a little more nervous.

What may add to this restraint is the fact that US indices are currently trading around record levels, which in itself has had a tendency to suck some of the bullishness out of traders as of late.

That’s not to say we won’t see any action in the markets as there’s still some important data being released.

UK and Spanish Data Impresses

Already this morning, we’ve seen some good figures from both the UK and Spain, which appears to have provided a small boost to the markets.

The UK construction PMI rose to a seven month high of 64 in August, while Spanish unemployment rose by far less than expected, which I guess is a small win, even though the employment situation in the country is still dreadful.

We’ll get some more insight into the US manufacturing sector today, with the final official manufacturing PMI and the ISM PMI being released.

These numbers have been very impressive recently and have given plenty of reason for optimism, with the preliminary reading of the official PMI hitting an all-time high and the ISM number coming very close.

Should we see this again today, it would be further evidence the US economy is recovering very well.

Ahead of the open, the S&P is seen 4 points higher, the Dow 34 points higher and the NASDAQ 12 points higher.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Equities Rally as Dipping Japanese Inflation Raises Hopes of More BoJ Stimulus 0

Posted on August 29, 2014 by Frankie Lawson

Another busy day of economic releases has provided the catalyst for further gains in equity markets on Friday.

Japanese data opened the door another notch to more quantitative easing, while the Eurozone inflation reading would appear to suggest that the deflation threat is not as serious as previously thought.

Another round of stimulus from the Bank of Japan has widely been expected ever since the central bank announced its initial program of quantitative and qualitative easing in April 2013.

Only in recent months have people seriously started to question whether another round of stimulus would be necessary as the country appeared to be nearing its 2% inflation target, once you remove the 2% that is attributed to the sales tax hike, and was coping better than anticipated with the sales tax hike.

The data released overnight would suggest things aren’t as rosy as initially thought as industrial production fell well short of expectations, unemployment unexpectedly rose and inflation fell to 3.4%, giving an effective rate of 1.4% once the 2% attributed to the sales tax hike is removed.

This is still well below the 2% target, which may prompt discussions within the BoJ about whether more needs to be done.

I don’t expect anything to happen in the next couple of months as they’ll probably want to see further evidence that inflation has hit a ceiling around the 1.4% level, but we could see something later this year.

Eurozone Inflation Stabilises as Euro Drops

This has also been a key talking point in the Eurozone, where the ECB, like its Japanese counterpart, is currently battling with very low inflation and in some areas, even deflation.

This is a slippery slope, as Japan knows all too well, and until now the ECB has played a very dangerous game in allowing it to happen in an attempt to allow the countries to regain competitiveness.

That said, the inflation figures for August would suggest the stimulus package announced by the ECB a few months ago is having an impact.

While the overall inflation reading was 0.3% for the month, core inflation was 0.9% which suggests the inflation problem is abating and the only thing driving the main CPI reading lower is temporary volatile factors such as fuel prices.

Given the number of stimulus measures announced by the ECB a few months ago, it’s difficult to know what exactly is helping lift the inflation number but I imagine the more than eight cent drop in the euro against the dollar in the forex markets, from $1.40 to below $1.32, is contributing.

Staying on the topic of inflation, we’ll get some important data from the US shortly before the open in the form of the core personal consumption expenditure price index.

This is the Fed’s preferred measure of inflation and currently lies at 1.6%, which allows the central bank to remain accommodative for now, but if this number starts to climb as the economic recovery goes from strength to strength, pressure will grow on the Fed to pay attention to the other aspect of its dual mandate, price stability, and raise rates.

We’ll also get some income and spending figures, which is something the Fed is closely monitoring at the moment, as well as the UoM consumer sentiment reading.

With all this data to come, we could be in for a fairly volatile end to the week.

Ahead of the US open, the S&P is seen 4 points higher, the Dow 29 points higher and the NASDAQ 10 points higher.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Dipping Confidence Figures in the US Fails to Limit Stock Market Rally 0

Posted on August 27, 2014 by Frankie Lawson

US futures are pointing marginally higher on Wednesday, on what is expected to be a fairly quiet session.

They’re not getting much direction from Europe, where indices are treading water, which is something we also saw in Asia overnight.

It’s looking a little light on the economic data front, which may explain why we’re not seeing much movement in Europe so far, or US futures as we approach the open.

The only notable release this morning has been the Gfk consumer confidence survey for Germany and even that didn’t really attract much attention.

Given the slightly weaker than expected number, the 20 point rally in EURUSD around the time of the release can probably just be attributed to normal trading early in the European session.

The number itself doesn’t change anything.

Confidence is still clearly dented as a result of the crisis in eastern Ukraine, while the overall slowdown in the euro area is probably itself starting to weigh on consumer and business confidence.

With this fact pretty much priced in, we couldn’t really have expected much from this number unless the decline seen was far more significant.

The US economic calendar isn’t looking much more exciting, with only a couple of pieces of data being released.

Of these, the EIA crude oil stocks figure is probably the most notable as this always has the potential to impact crude prices.

We’ve seen plenty of volatility in oil prices recently, with geopolitical events putting upward pressure on prices and falling global demand driving them in the other direction.

The latter is winning the battle at this stage, despite the occasional spikes, and if we see further evidence today that demand is on the decline, we could see that continue.

Aside from this, we have MBA mortgage applications data.

The problem with this is that the numbers tend to be very volatile and forecasts are less available.

As a result, this tends to be one of those data releases that people listen out for but don’t really respond to.

Ahead of the open, the S&P is seen 1 points higher, the Dow 20 points higher and the NASDAQ 2 points higher.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

US Shares See Cautious Recovery after Slipping into Negative Territory for 2014 0

Posted on August 04, 2014 by Frankie Lawson

US indices are expected to open higher on Monday following an awful week that saw the Dow slip into negative territory for the year, while the S&P suffered four consecutive losses to end the week down more than two and a half percent.

Ahead of the open, the S&P is seen 6 points higher, the Dow 40 points higher and the NASDAQ 11 points higher.

Despite this slightly positive start to the week, there does appear to be a little caution in the markets.

Investors are a little concerned that the sell-off which started last week is not offer and could lead to something much bigger.

Given the significant increase in the number of warnings related to the stock markets as of late, this worry of a larger correction every time we see a bad week is hardly surprising.

However, if you look back at the three other times that we’ve had poor weeks, the markets have bounced back pretty quickly so all this worry may be short lived.

Fortunately the week is looking data heavy which could provide plenty of support for the markets, especially when you look at the data we’ve seen recently, with everywhere except the Eurozone enjoying a pretty solid second quarter.

Today is one of the quieter days though, which may just give the markets some time to absorb all of the events from last week.

UK and European Data at Odds

The morning has been pretty quiet in Europe as well, although there has been a couple of noteworthy data releases.

The one that stands out was the UK construction PMI which aside from exceeding expectations with respect to the headline number, contained some very encouraging points in the report.

The rise in residential construction in response to increasing demand along with the record increase in job creation is very positive, with the latter pointing to a sustained improvement expected in the sector.

The other notable release was the Eurozone sentix investor confidence figure which fell to 2.7 in August from 10.1 the month before.

This is the lowest reading since August last year and once again highlights the slowdown being seen in the region, not to mention the value that is no longer seen here.

This could all feed into the euro weakness that many expect going forward, with investment in the region still weak and stocks and bonds now looking far from the cheap alternatives they were a year ago.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.

Financial Markets Struggle for Volatility Amid Summer Holidays and Caution Ahead of FOMC 0

Posted on July 29, 2014 by Frankie Lawson

It’s been another fairly slow start to the day in Europe and this is unlikely to change as we head into the US session.

A lack of economic data has left traders without any form of catalyst for the next big move in the markets.

We won’t have to wait too long for this though, with the next few days bringing an abundance of tier one economic data and earnings reports, as well as the latest policy decision from the Federal Reserve.

This is probably contributing to the lack of volatility in the markets again this week.

Traders can quite often stay on the side-lines during periods like this when so much can change in such a short period of time.

Fed Hint at Rate Hike Would Stir Things Up

All it would take is a hint at an earlier rate hike in the FOMC statement tomorrow and all of a sudden we could see a significant amount of selling in both equities and bonds, not to mention gold, while we’d probably finally see that dollar strength that so many predicted at the end of last year.

While this may not be much of a bother to intra-day traders, who would aim to be in and out of positions before then, many others may be deterred by this and instead opt to wait until after these announcements to make their move.

This is why we tend to see a little less volume and volatility during such periods and this has probably been exacerbated this week by the fact that we have the FOMC decision, preliminary US GDP reading and the US jobs report all in the same week, which is very rare.

Let’s not also forget that we’re now right in the middle of the summer holidays so a lot of people will now be topping up their tans rather than looking at the charts.

There is Some Data to be Had

While the economic calendar is looking very bare, there are still a couple of pieces of data being released, but based on yesterday’s market reaction to similar figures, I have doubts about the kind of impact these will have.

The one that stands out for me is the consumer confidence figure for July, which is seen rising from 85.2 to 85.3.

The consumer is so important to the US economy right now that I would normally pay far more attention to this but yesterday’s muted reaction to the services PMI suggests to me that this is unlikely to get much of a response either.

One thing about this though is it does tend to be wide of the mark from expectations which could wake up the markets a little.

Another focus for investors today could be earnings season, with another 48 companies from the S&P 500 due to report including Pfizer, Merck & Co and American Express.

We’ll also get an update on the second quarter from Twitter after the closing bell so there’s plenty to keep an eye on in this area today.

Ahead of the opening bell, the S&P is expected to open 2 points lower, the Dow 10 points lower and the NASDAQ 2 points lower.

 
CFDs, margined forex and financial spread trading are leveraged products. They carry a high level of risk to your fund. It is possible to lose more than your initial capital outlay with these products and they may not be suitable for all investors, do ensure that you fully understand the risks involved, seek independent financial advice if necessary.

Content by Alpari. This content should not be construed in any circumstances as a recommendation or solicitation of any offer to buy or recommendation or offer to sell any security or other financial instrument.



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