Equities stabilise for the time being
|Stocks have tried to recoup some of last week’s losses, but enthusiasm seems distinctly lacking.
Stocks edge up after a tough week
“A modicum of positivity has crept back into stocks today, helped along by the thinning volumes as the Christmas break gets closer. But the shift to hawkishness from the ECB last week and the Fed’s continued rate hikes still loom large, and may well cap any pre-Christmas bullishness. The next two weeks are quiet, as is to be expected, which at least gives some scope for a Santa rally, but after the tough year stocks have endured any bounce will likely be relatively weak.”
Natural Gas slumps again
“Europe might have shivered last week but with storage levels so strong it seems that gas bulls will have to wait until new year before more compelling reasons to buy begin to emerge. And with the EU considering a lower price cap it seems gas prices have further to fall.”
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