Alerts

International Market Bounce Feeble Amid Tech Outflows and Brexit Uncertainty

Fairness Evaluation and Information

FTSE 100 | EU Summit to Set the Tone

Nasdaq 100 | Largest Tech Outflow Since February 2015

Value

200DMA

RSI

IG Sentiment

Europe

FTSE 100

6955

7400

59

Blended

DAX

11166

12300

57

Blended

CAC 40

4945

5331

57

Blended

FTSE MIB

18721

21620

55

US

S&P 500

2649

2762

39

Bearish

DJIA

24446

25099

37

Bearish

Nasdaq 100

6544

7139

34

Asia

Nikkei 225

21553

22489

43

Shanghai Composite

2579

2943

37

ASX 200

5716

6046

40

As of 1245GMT Nov 23rd

.

FTSE 100 | EU Summit to Set the Tone

One other unstable week for UK asset courses given the continued uncertainty over Brexit. Trying forward, the EU summit ought to set the tone originally of subsequent week. The UK PM and remaining 27 EU nations will look to rubber stamp the withdrawal settlement and political declaration on future ties. Nevertheless, the massive problem for Theresa Might is convincing her divided authorities to again the deal. Uncertainty will stick with the FTSE 100 unlikely to determine any agency path. On a sector foundation, vitality corporations proceed to really feel the brunt from the big declines noticed in oil costs, whereby Brent has dropped some 30% because the October threerd peak.

FTSE 100 Value Chart: Each day Time Body (Feb – Nov 2018)

Global Market Bounce Feeble Amid Tech Outflows and Brexit Uncertainty

Nasdaq 100 | Largest Tech Outflow Since February 2015

The Nasdaq has moved firmly into correction territory, dropping over 15% from the August peak. Fund flows have proven the most important tech outflows ($1.5bln) since February 2015, whereas flows have as a substitute rotated into the defensive sector ($8bln). Eyes over the following week can be on a slew of Fed communicate (Powell, Clarida), alongside the FOMC’s assembly minutes.

Latest Fed Commentary

A flurry of cautious statements from key Fed Official caught many abruptly. Fed’s Powell and Clarida had each highlighted that US might face headwinds subsequent 12 months with indicators of a slowdown in international progress, whereas fiscal stimulus results fade. Now, whereas this may unlikely impression the December fee hike. Additional fee will increase going ahead have come underneath query with cash markets pricing at fee hikes from the Fed.

Nasdaq 100 Price Chart: Each day Time Body (JanNov 2018)

Global Market Bounce Feeble Amid Tech Outflows and Brexit Uncertainty

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— Written by Justin McQueen, Market Analyst

To contact Justin, e mail him at Justin.mcqueen@ig.com

Observe Justin on Twitter @JMcQueenFX


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