FTSE 100 and Dow enjoy solid gains
|The FTSE 100 has led the way higher today after signs of slowing UK inflation, while earnings continue to lift the Dow to a new high for the year, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
UK stocks storm higher after CPI print
“UK investors have watched enviously as US markets recover as CPI on the far side of the Atlantic dropped, but today they have had plenty of reason to celebrate following the CPI print this morning. The FTSE 100 is enjoying its best day of the year so far, led by housebuilders and other real estate stocks. After weeks of declines, it looks like the FTSE 100 has found a low.”
Dow hits new 2023 high
“Earnings season continues to deliver the good news that the Dow has been looking for. After living in the shadow of the Nasdaq 100, the index has soared in recent sessions thanks to good earnings from banks and others outside of the tech bubble. Fund managers are still underweight stocks, but a solid earnings season will drag more money back into stocks, supporting a rally over the summer and beyond.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.