Saturday, 25 February 2017

Markets mixed but Dow hits another record high

Markets ended mixed again on Friday.

US stocks rose, with the S&P 500 gaining 0.2 percent and the Dow Jones Industrial Average closing at a record high for the 11th consecutive day.

However, the STOXX Europe 600 fell 0.8 percent and the Nikkei 225 fell 0.45 percent.

“Markets are reacting to the risk of delay in fiscal stimulus and unwinding some of the recent optimism that followed President Trump's phenomenal tax package remarks,” said Ric Spooner, chief market analyst at CMC Markets.

Nevertheless, Lawrence Glazer, managing partner at Mayflower Advisors noted that “there are still significant inflows, because now even the pessimists want a piece of the action”.

“It’s momentum driven, not fundamentally driven,” he added.

No comments:

Post a comment