Divergence between US and European stocks- check out the FTSE 100
The US stock markets are extending their gains in the first 30 minutes of live trading. That has seen the Nasdaq 100 now rise above 15,300 and the Dow Jones lift towards 34k. However, at the same time the markets here in Europe are under further pressure. The DAX is not far off session lows and the FTSE 100 is falling further, just now dropping below 7,340. The US Michigan consumer sentiment index has just been release has missed on expectations, falling to 60.4. That was quite a miss, but it has not sent the dollar lower at all yet. In fact it is the opposite, but more on that in a moment. The reason for that would seem to lie in the consumer inflation expectations rising further at the long end. The FTSE 100 is just now trading at 7,330
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