Global stock markets continued their recovery on Tuesday, with US tech stocks making firm gains ahead of Tesla’s earnings tonight, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
FTSE 100 notches up fresh record
“After yesterday’s strong session the FTSE 100 might have been forgiven for running into some early selling. But the index was able to hit a new peak before succumbing to some profit-taking in the afternoon session, though it remains up on the day overall. BoE chief economist Huw Pill will take the blame for the weakness this afternoon, as he warned investors not to hope for rate cuts too soon, but the medium-term outlook for UK stocks continues to look brighter.”
Dow logs more triple-digit gains ahead of Tesla earnings
“US stocks continue to put last week’s low behind them, making further headway, and the Nasdaq 100 led the way in percentage terms ahead of Tesla’s release tonight. The recent weakness in stocks seems to have cleared some of the froth off the market, trimming sentiment just in time for the all-important round of earnings from Big Tech.”
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