Global market rally sees fresh highs

The Dow and FTSE 100 have both clocked up new records today, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.

FTSE 100 steady at record highs

While tech stocks come under pressure on Wall Street the FTSE 100 has managed to hold at the record high set earlier today. Government turmoil in the US is set to give way to more drama at Westminster, though for now any market jitters are confined to the area of gilt yields. There has been a solid recovery in Europe too, as the global market rally enters a new phase

Dow climbs to new peak and gold surges

The strong rally in tech earlier in the week has given way to a new surge for the Dow, bolstered by expectations that Congress will bring the government shutdown to an end. The momentum trades have been given new life this week, as seen by the revival in gold prices, though this works both ways as oil traders have seen this afternoon. The return of US data next week might provide a speed bump, though the signs of a weakening economy continue to be seen, leaving a December Fed cut a strong possibility.