The Dow's surge to a new peak above 44,000 contrasts with another poor day for the FTSE 100, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
China disappointment pressures FTSE 100
The lack of any new China stimulus developments meant that the FTSE 100 was under pressure for a second day, leaving further behind its US peers for the week. The optimism seen on Wall Street has been entirely absent from the UK index, as heavyweight mining stocks shed ground after the National Policy Committee failed to unveil anything of note.
Wall Street enjoys its best week for a year
With the election out of the way investors have rushed back to US stocks, cheered both by the removal of political uncertainty and by the promise of more earnings growth. Worries about higher inflation and an end to rate cuts have been cast aside, for now.
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GBP/USD ranges near 1.2600 as US Dollar steadies
GBP/USD fluctuates in a tight channel near 1.2600 in the second half of the day on Monday. Trading volumes are likely to remain thin as financial markets in the US enjoy a log weekend in observance of the Presidents' Day holiday.
Gold clings to modest daily gains near $2,900
Gold regains its traction and trades in positive territory near $2,900 following Friday's sharp decline. Although financial markets in the US remain closed on Monday, investors will scrutinize political headlines and comments from Fed officials.
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