IIFT Daily Note with Peter Brown

Stocks are off again!

Posted by:  |  Time: 7:41 am  |  Topic:
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Really good day and night for the stock market. No bad news and the stocks market pops. And seeing as how the market has decided there is no story in Ukraine there seems nothing in the way of a new high rally. We have said it before but this low interest rate environment is very supportive for the stock markets. We look set for higher again today.

In Europe this morning we have German sentiment and Italian CPI. Both are important but the CPI figure is directly linked to Draghi. His stimulus package is inflation driven and a low number will excite the market where as a high number will cast doubts on ECB action. Euro and DAX will be the movers. Stimulus bad for the Euro good for stock.

Conditions today are Choppy

Levels are:-  S&P (JUN) 1900 1887 Wall St (DFB) 16750 16670 DAX (DFB) 9800  9700 Euro 1.3775  1.3750 Gold 1305  1280

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