Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European markets ended without major fluctuations in a session marked by investor expectations in relation to the FED meeting. After an uncertain start, the indices of the Old Continent began a slight downward trend that lasted until the last hour of trading, when a brief rally led them back to the opening levels. One of the vulnerabilities of European markets today was the banking sector. The epicenter of the weakness of this sector was the Italian banks. The bank’s Stocks were shaken by news reported in the Italian press about the possible formation of a government between Lega and the 5-Star Movement, two parties with some eurosceptic traits. On the positive side, the oil sector stood out, reflecting the rise in oil prices. Crude was picking up on rumors that President Trump and Saudi Hereditary Crown Prince were studying a way to counter Iran’s expansion into the Middle East.
The American indices traded with some gains. As in Europe, the expectation surrounding the FED meeting was dominating the sentiment of investors. As anticipated in today’s Stock Market Pace, with a 0.25% headline rate hike expected at today’s meeting, investors’ main mission is to gather clues that will allow them to gauge the likely number of interest rate hikes this year.