US stocks rise but Europe falters
|The pre-Christmas rally appears to have begun on Wall Street, but in Europe festive cheer is lacking again, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Wall Street rallies while Europe struggles
It will come as no surprise to investors to hear that the final full week of trading in global markets in 2024 has started with more gains for the US while Europe struggles. The Nasdaq 100 has hit a fresh record high, and small caps are in demand, as the final year-end chase gets underway. This is the ‘Santa rally’ almost right on cue, with most US stocks having struggled in the first half of December, a tradition as hallowed as the second half’s gains.
Political turmoil beckons for Europe
Germany is now set for elections early next year, promising to throw in a new ingredient to Europe’s heady brew of political instability. French stocks were in ‘buy the rumour, sell the news’ mode, falling once again after a brief rally following the collapse of the Barnier government. While his successor is now hard at work, the problems he faces remain intractable.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.