A more positive tone prevails across markets this afternoon, and for a change the Dow Jones is outperforming the Nasdaq 100 so far in the session, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 solidly higher after BoE rate decision
“UK stocks had been in limbo ahead of the BoE decision, but the decision was perceived in a dovish light and provided a tailwind for the London market. Ocado’s slump has knocked a point off the index, but the broad-based rally has powered the FTSE 100 to a two-week high, and this could mark the start of a new leg higher for the index as investors continue to take advantage of the competitive valuation on offer.”
Dow higher while Nasdaq 100 consolidates
“The Nasdaq 100’s ascent has paused for now following its move to 20,000, but instead the lagging Dow Jones has made headway in early US trading this afternoon. Broadening participation in the rally would be a major boost for investors, who have fretted about the sustainability of the rally, given that it was big tech that was making all the running.”
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