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Spreadex Market Update

Tuesday, October 30, 2012 - Morning Market Update
Matthew Nelson
Financial market analysis from Spreadex financial spread betting trader Matt Nelson

US Stocks Open Higher

UK stocks opened slightly higher this morning -bucking expectations of a slight drop – and are continuing to get stronger following fairly muted sessions in Asia overnight as low volumes persisted. 

Asian stocks made minor gains overnight with the major news being that the Bank of Japan would expand the potential of its asset purchasing programme by $138 billion. The Nikkei, however, fell slightly on the news, with the figure being within expectations.

The pre-market call was that European markets would fail to follow suit as that familiar foe the Eurozone debt crisis is once again due to be the hot topic of conversation today, with Mario Draghi due to speak later and German unemployment data and European retail PMI figures also providing likely movement in equity and currency markets, however so far European indices have defied expectations.

There will be no trading in New York again today as Hurricane Sandy continues to torment the City and the East Coast, however it is said that some electronic trading will take place.

It had been rumoured that the NYSE trading floor had been damaged under 3 feet of water, however these rumours now appear to have been unfounded.

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?


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