The Dow Jones closed at another record high, making that the 12th consecutive session of record-breaking sessions – its best winning streak for the index in 3 decades.
In the wake of the highly-anticipated address, US indices are climbing – albeit against the tide, as European and Asian indices fall.
In contrast to Trump’s dystopian inauguration, which painted a picture of a united states in decline, this address is set to be more uplifting, according to White House officials. The US president has revealed a colossal $54 billion increase on military spending, which is seen as move towards militarism. Trump will cut spending across government and foreign aid programs.
- The S&P 500 is up 0.05%, trading at $2366
- The Dow Jones is up 0.05%, trading at $20813
- The Russell 2000 is p 0.15%, at $1404.90
- The DAX 30 is down 0.4%, at €11799.50
- The Cac 40 is down 0.4%, at €4841
- FTSE 100 is down 0.35%, at £7235
Market Watchlist
Breaking from the downward trend in European indices, is the FTSE MIB – the Italian proxy. For the second trading day, the index is trading upwards, unhinged by Europe’s lagging sentiment. FTSE MIB is trading up 0.16%, at €18900.
Forex
All major currencies are trending either downwards or lack any energy this morning.
The greenback has lost momentum, trading downwards this morning. The EURUSD is in a tug-a-war, both currencies are evenly matched; they reside in a horizontal trend for now.
The Aussie dollar is down 0.15%, after a strong start to the trading day. The country showed that its deficit is at its narrowest point in over a decade.
Sterling has found virtually no momentum this morning, the currency has not found a driver to push it up or down. Concerns that Britain’s GDP data will show that the country fell into recession are rife. The results are due to come out on Wednesday.
News Today
13:30 (GMT) USD Prelim GDP q/q
15:00 (GMT) CB Consumer Confidence