Tech takes the lead again
|While the Dow has stumbled, a broader recovery in equities has been seen across the US and Europe this afternoon, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Dow stumbles but other indices firmly higher
“The Dow’s position as one of the poor performers this year has been restated this afternoon, as Powel reaffirmed his commitment to more rate hikes. The Fed chairman seems determined to restate the Fed’s hawkish attitude at every opportunity, but other central bankers today have been more circumspect, giving room for European indices to rally.”
Nasdaq 100 back on the up again
“The US’ move to limit AI chip sales to China has not held back the Nasdaq 100. The recent pullback, barely deserving of that name, seems to have run its course. Investor appetite for anything remotely connected to AI remains undimmed. In bull markets, it pays to follow the momentum, and once more that momentum is best found in the Nasdaq.”
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.