Stock market investors await US GDP date
Stock market investors are likely to operate with caution in the run-up to the release of US gross domestic product (GDP) figures this afternoon.
This is the opinion of market strategist at City Index Joshua Raymond, who noted that while some buyers have moved in to take advantage of the low prices caused by the recent heavy losses, many will stay away from the market until the data is published.
Mr Raymond said that the GDP statistics - due for release at 13:30 GMT - will be a ’big focus’ for those operating on the stock market, with traders hoping for a positive figure to help counteract the ’jitters’ that have been present over the last few weeks.
’We may see investors look to bank some early profits as a precaution as we head into the GDP data this afternoon,’ he observed.
According to Reuters, the FTSE 100 was up 0.7 per cent at 08:52 GMT this morning, with a rally from banking, oil and mining stocks helping push the index to 5,181.64 points.
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