Last week we have had some good news regarding the US economy, which might be a good indicator for FED tapering or not. Seems the economy is in good shape so as the rumour says on the market comes the tapering or tightening next week. Last Friday the market made the biggest daily gain within a month. So the bulls are still out there. My guess is that we don’t need yet the canary in a coal mine.
The good macros were the followings:
- 7% unemployment rate from 7,3%
- Hourly wages up with 4cent, +2% YTD
- US GDP jumped up to 3%
Monday jumped a bit again the US stocks. SP500 gained close the record level. The market didn’t have any concerns about the stimulus reduction gossips probably next week. It seems the market ignoring that news and only focuses on the fundamentals.
SP500 +0,18% to 1.808
DJIA +0,03% to 16.025
Nasdaq +0,15% to 4.068
The European markets specially FTSE still lagging. In the whole November and December couldn’t get up higher just plunges without any new record.
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The BFM Assets Team.
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