Equities have climbed in Monday trading, with the Dax above 17,000 again and the S&P 500 consolidating its hold on 5000, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks make fresh gains
“The new week has begun with gains for stocks, though once again the FTSE 100 has been left out thanks to weakness in its heavyweight pharmaceutical stocks. European indices have led the way today, and despite fears of broad-based weakness in the eurozone economy both the Dax and CAC40 continue to hover near record highs.”
US inflation data looms
“Tomorrow’s CPI reading in the US promises to be the main event of the week. Price growth is expected to keep slowing towards the Fed’s target, so investors will be hoping for a bigger-than-expected drop in order to provide the foundations of a rally to fresh record highs for US indices.”
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