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Spreadex Market Update

Thursday, February 11, 2016 - Evening Market Update
Connor Campbell - Market Analyst at Spreadex

Market tempers more extreme impulses but remains in Tarantino-levels of red

Initially threatening a 300 point plunge when the bell rang on Wall Street the Dow Jones settled into a more solid, if still troublesome, 175 point drop as the open receded into the background. Whether or not the better than expected, and best since December, jobless claims helped (it probably didn’t) is unclear, though at this point in time in the most worthless piece of positive news is likely appreciated by fear-stricken investors. The Dow was probably saved (and this is all relative, remember) by the fact that the blood loss endured by the US banking sector was nowhere near as gory as the scenes over in Europe, Bank of America the worst hit at around a 4% decline.

In Europe things were much the same, i.e. not too good at all. The FTSE just about managed to claw its way back to the 5600 mark, arguably thanks to the fact that Brent Crude is now closer to $31 per barrel than it is to $30. The DAX, meanwhile, tucked under a 2% decline around 40 points away from 8900, whilst the CAC climbed down from its 3.7% nadir to post a 2.7% loss, both indices aided by a (minor) reduction in losses form Deutsche Bank and Societe Generale respectively.

The big question now is, does today’s horrorshow continue into Friday? Given just how fearful investors appear to be at the moment it is incredibly hard to tell; one thing tomorrow does have going for it, however, is data. Lots and lots of it. Germany, Italy and the Eurozone as a whole reveal their preliminary Q4 GDP figures, whilst the US sees retail sales, import prices and the UoM consumer sentiment number. The markets will be hoping (nay, praying) that, with a bit of distraction (like on Wednesday), the week can end on a slightly more positive note.

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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.

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