IIFT Daily Note with Peter Brown

Friday 13th Equity Markets

Posted by:  |  Time: 8:04 am  |  Topic:
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Pretty quiet start considering yesterday’s price action. Eventually we got the rally we were expecting after dissapointing jobs figures.

S&P now fully recovered from Non Farm Payrolls and the market is expecting QE3 down the road.

This morning we focus again on Europe and in particular Italy and Spain.There is a slight sell off on those equity markets first thing, but not enough to give us a firm direction.  The market action will hinge around these two markets so look for sentiment there.

We should range trade a bit today after such a big move yesterday. Any correction should lead to a buying opportunity later.

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