Spreadex Market Update

Dow Jones joins market-wide rebound as investors cheer lack of Trump news



The market’s green glow only grew more intense after the US open, the Dow Jones the latest index to recover some of its Trump-inspired losses.

The Dow surged more than 100 points higher as the bell rang on Wall Street, pushing it back to 20750. That’s still a rather substantial drop from the 21000-plus highs hit on Tuesday but also, admittedly, 250 points higher than the nadir struck during yesterday’s Trump-dominated trading.

"Sterling’s muscular showing – the pound rose more than half a percent against the dollar – means cable is on track to end a week above $1.30 for the first time in 6 months."

While the Dow may have gone some way to mitigating the week’s damage, the dollar wasn’t so lucky. Sterling’s muscular showing – the pound rose more than half a percent against the dollar – means cable is on track to end a week above $1.30 for the first time in 6 months. The greenback did even worse against the euro, which rose 0.8% to graze $1.12, a price not seen since the erratic trading that greeted the US election result on November 9th.

Despite the substantial gains posted by the pound and euro, the European indices were still more than happy to continue their rebound this afternoon. The FTSE climbed half a percent, though couldn’t break through the 7500 mark, as did the CAC, which crossed 5300; the DAX lagged behind its UK and French counterparts, but did crawl back above 12600 with a 40 point push.

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