Chris Beauchamp, chief market analyst at investment and trading platform IG, says relief in markets is palpable today as Donald Trump appears to rule out using force to seize Greenland.
Stocks recover as Trump steps back from military threat
Traders had to spend the afternoon listening to Donald Trump talk about a variety of the usual topics, but the main piece was his comment on ruling out military action to seize Greenland. This provided the magical moment everyone had been waiting for, and stocks duly rose while the VIX fell as fears of a complete rupture of the Western alliance subsided. While the EU Parliament suspended work on the US trade deal, the diminishing chance of a trade war between the US and the EU allowed for a more positive atmosphere to prevail.
Netflix rises from one-year lows
A rebound in risk appetite helped Netflix recover its losses after its results last night. Even the most die-hard fundamental investors couldn’t help but notice the price, which has been testing the $80 level since last April. With so much bad price news and the stock trading at a lower valuation than six months ago, will bargain hunters finally emerge?
