After President Donald Trump’s first big speech, how fare the markets? In a word: “meh”.
Stocks pared gains and the US dollar initially eased as Mr Trump’s first address to Congress failed to provide the policy details that markets wanted — and analysts let rip with their disappointment.
Stocks in Asia were mixed, with Tokyo’s Topix index climbing 1.2 per cent while in Sydney the S&P/ASX 200 was off 0.1 per cent and Hong Kong’s Hang Seng index was up 0.1 per cent.
Futures tip the FTSE 100 index to open 0.1 per cent higher in London, while the S&P 500 is expected to open 0.2 per cent higher in New York.
Company earnings reports out today include Carillion, Man Group, Admiral, CRH, Eurotunnel, ITV and Elementis.
The economic calendar for Wednesday is already tired of these shenanigans (all times London):
- 07.00: Finland GDP
- 07.00: UK nationwide house prices
- 08.00: Germany consumer inflation
- 08.15: Spain manufacturing PMI
- 09.00: Italy, France, Germany, Greece and Eurozone manufacturing PMIs
- 09.00: Italy annual GDP and deficit
- 09.30: UK manufacturing PMI