Spreadex Market Update

Dow Jones pushes above 23000, but loses energy after opening bell



Though the Dow Jones initially exploded out of the gate, it did cool slightly as the opening bell receded, taking the edge off of Europe’s gains in the process.

A 400 point rise is nothing to be sniffed at. However, it is noticeable lower than the 800 point surge the Dow posted at the very start of the session, keeping it above 23300, but shy of its 23400, 4-week highs.

As mentioned, this in turn sapped some energy from Europe. The DAX, which roared back into a bull market as it struck 10600, found itself trading the wrong side of 10300 as its gains were trimmed to 200 points, while the CAC fell back under 4400, more than 100 points shy of where it was at lunchtime.

The FTSE was no different. Losing almost 100 points from its intraday peak, the UK index slipped back towards 5650.

How Europe ends up opening on Wednesday is likely going to be determined – in part at least – but where the Dow Jones et al. close this evening. If the US markets can build up some momentum, the week’s rebound could continue. If the energy dissipates even further, however, investors might start to lose a bit of their bravado.

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