Financial Markets Looking Quiet

Calendar April 23, 2009 | Posted by Robert

The Afternoon Report from David Evans, market analyst, BetOnMarkets.

It’s been a relatively quiet day on markets today as traders steady the ship after manic Monday.

Overnight sentiment was reasonably positive after better than expected earnings from Ebay and Apple. However this sentiment has hit a brick wall in the face of further bleak economic news from the US. Both initial and continuing jobless claims have continued to worsen while existing home sales fell in March more than expected.

Markets appear to be treading water ahead of tomorrow’s release of the result of the stress test performed on US banks. There have been leaks and rumours surrounding these stress tests with markets reacting directly to the expected outcome. There could be a lot of volatility tomorrow as the results are announced, especially if there are any nasty shocks lurking in the announcement.

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The above comments do not constitute investment advice and neither BetOnMarkets nor SpreadBets.org.uk accept any responsibility for any use that may be made of them.

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