Get our Weekly Trading Update email:

Spreadex Market Update

Wednesday, May 06, 2015 - Afternoon Market Update
Connor Campbell - Market Analyst at Spreadex

FTSE still limp despite services boost, US awaits ADP non-farm, Tesla in focus

Pre-game nerves have clearly hit the FTSE with investors having no way to ignore the looming election tomorrow. This meant that strong performances from the FTSE’s commodity stocks, alongside robust gains for Supergroup, up over 7% after the clothing company beat analysts’ expectation and reaffirmed its full year targets, and Weatherspoons, which was up over 4% despite a slowdown in sales growth, couldn’t help elevate the UK index. Elsewhere, Sainsbury’s decline began to widen as the day went on, falling by nearly 3% after this morning’s first loss in a decade as investors gradually decided that living well for less currently isn’t working for the orange supermarket.

With the Dow Jones dipping below 18000 once again last night, the US futures are looking slightly healthier this morning ahead of a busy afternoon of data. The main focus will be on the ADP non-farm productivity figure, an indicator of Friday’s all important government released non-farm number, as the jobs sector continues to be a key cog in the Federal Reserve’s rate-hike deciding machine. The usual messiness is likely to occur after the figure is released in regards to the behaviour of the dollar and the Dow, with investors alternately pleased by a hike-delaying figure and dismayed by the realities of the weak jobs data.

The eccentric Elon Musk’s Tesla Motors is the big earning release of the afternoon, revealing its first quarter results after the bell. Tesla disappointed with its full year results back in February, but the signs are currently positive for its release later today. The company saw rapid growth in April after the announcement of record motor sales for the first 3 months of 2015 alongside a lot of investor excitement following the reveal of its home electric battery the Powerwall, leaving Tesla marginally in the green ahead of its results.

Recent posts:
Stock of the day 06/05/2015 - BT Group PLC/Alibaba Group Holdings Ltd
Morning Market Comment 06/05/2015
Evening Market Comment 05/05/2015
Stock of the day 05/05/2015 - J Sainsbury PLC/GlaxoSmithKline PLC/Tesla Motors Inc
Afternoon Market Comment 05/05/2015

The Trading Day and Week Ahead

For further information on the trading day ahead, take a look at our Financial Diary, which previews all the Economic Data due out to today and projected or previous figures.

Our Financial Diary is updated in real time as the figures are released throughout the day.

If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide.

For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.

For market trends and analysis, don't forget our charts have automatically generated support and resistance trend lines helping aid your financial spread betting with technical analysis. For more help on using our charts, view our Guide to Trading with Charts?


Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone so please ensure you fully understand the risks involved.

Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.

No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.

The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to