Another positive record finish for the S&P 500 yesterday was recorded on Wall Street, but despite this, the US markets closed lower mostly with some mild losses, as investors started to gauge in the results of the two days Fed meeting which will conclude tomorrow. It is a common methodology amid traders that they will not take excessive risk when a gun is pointed to their head- The Federal Reserve meeting. Similar set mind is echoed this morning by investors during the European market session, which is driving the equity market lower.
Despite the fact that the DAX index has logged all time high and is up nearly 4.43% so far this month, but the index has faced an increase in the selling pressure soon it goes to 9000 level, which is now acting as a psychological level. One would ask if there is any room for a further upward move, given that we have already seen a strong performance of the index during this year. However, the German economy did face the reality check last week when the IFO number fell below the expectation level, and this raised some eyebrows that the recovery around the euro-phoria is still too green.Read More