Equity Rally On Pause As Investors Focus On US Tax Reform
AvaTrade | Apr 26, 2017 07:21AM ET
European equities shed some gains after a global rally in stock markets.
The rally in risker assets started in Europe on Monday, after the results of the French presidential elections were released. European equities are paring some of the gains made earlier this week, ending a five-day advance.
US equities are being supported by technical company’s earnings reports, which are due to trickle out over the next few days. Additionally, Donald Trump is revving up to reveal his highly-anticipated tax reform changes later today. The US president vowed to decrease the corporate tax from 35 to 15 percent.
However, if the president touches on the controversial topic of border taxes the market may turn bearish. Investors will be tightly glued to the speech.
- CAC 40 is down 0.16% at €5223.50
- DAX 30 is down 0.18% at €12480
- FTSE 100 is down 0.13% at £7212
- FTSE MIB is down 0.5 at €20355
- S&P 500 is up 0.03% at $2384
- DJ 30 is up 0.08% at $20953
- Nasdaq 100 is up 0.07% at $5551
Crude oil can’t shake off over-supply concerns. The commodity is still hovering below $50 at $49.46 per barrel. Crude oil inventories will be released later today. Perhaps the stock piles announcement will give the commodity a boost.
Thanks to the slight decrease in the appetite for riskier assets, gold is moving upwards at $1264.64
h3 News Today/h314:30 (GMT) USD Crude Oil Inventories
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