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Today's Markets: Indices diverge as investors look to bonds, Domino's launches buy back

The latest market news, and what it means for your investments
Today's Markets: Indices diverge as investors look to bonds, Domino's launches buy back
  • UK consumer spending dips
  • Market divergence continues with tech under pressure in the US but some indices hitting new highs
  • Companies: ITV looks to ads recovery, Ultra Electronics' record order book, Domino's launches share buy back, TP Icap
  • Oil price remains volatile

Market Outlook: European markets follow US higher but tech remains under pressure

European stock markets and the Dow Jones rallied though tech weighed on the S&P 500 as the sell-off in growth and momentum continued. The DAX in Frankfurt rallied over 3 per cent to mark a new record high, whilst the Dow Jones climbed 300pts to a record high 31,800. The Nasdaq composite declined 2.4 per cent and the NDX 100 was off almost 3 per cent. Tesla declined another 6 per cent almost to $563, whilst Apple fell over 4 per cent to $116. A record high for the Dow just as the Nasdaq enters correction territory: We’ve not seen such a divergence between the industrials and growth in a long time. The S&P 500 is caught somewhere in the middle, though the weighting of the tech names (the 5 FAANGs were worth about a quarter of the market until recently).

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