The month is ending with indices in the red, as the post-China stimulus bounce wears off and investors look ahead to this week’s payrolls data, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks lose steam in final session of the month
“Stocks have shed some ground so far in the final session of September, with last week’s Chinese stimulus measures failing to turbocharge indices in the US and Europe. Today’s speech from Jerome Powell and the job reports this week may well keep risk appetite in check, and with the US election still on a knife edge investors aren’t short of reasons to stay cautious.”
“Looking ahead, UK investors will be keen to see what Tesco’s numbers are like. October will see the first budget from a Labour government in fourteen years, and UK consumers remain concerned about the near-term outlook.”
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