Gains slip away for FTSE 100 and Wall Street
|UK and US stocks continue to be held in check by the upcoming political events in both these countries, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Unilever and Barclays lift FTSE 100
Good news from Unilever and Barclays has driven the FTSE 100 higher today, though uncertainty around next week’s Budget continues to hobble UK assets overall. The FTSE 100 has spent weeks trying to rally, but to no real effect. Just as the US election hangs over Wall Street, so UK investors have decided to sit things out until Rachel Reeves finishes talking next week.
Wall Street stumbles
Perhaps unsurprisingly, Tesla’s earnings have not been enough to breathe life into the wider US stock market. Instead, we have seen a trimming of gains all day, as the traditional pre-election weak period sets in. This should persist at least until the end of the month, and probably until after the election, when history suggests we see stocks resume their march higher.
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.