Poor hiring data has bolstered the Dow this afternoon, while in London the mid-cap FTSE 250 has pushed past its blue-chip cousin, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 looks to resume move higher
“News from Standard Chartered has helped provide some support to the FTSE 100, but fresh weakness for mining stocks and Diageo’s poor results have cast a shadow over the index. The FTSE 100’s recent poor performance has seen its mid-cap cousin the FTSE 250 move further ahead, as investors pile back into UK-focused stocks despite the tough times ahead highlighted in the chancellor’s statement yesterday.”
Nvidia drop casts a shadow over Wall Street
“The Nasdaq 100 continues to hover around 19,000, hobbled today by another lurch down for Nvidia. The next three days will likely decide the fate of the index, given the importance of the earnings due out. Weakness in US hiring figures did bolster the Dow and small caps however, maintaining some of the recent rotation trade and bolstering hopes that the Fed will cut in September.”
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