This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
US share prices have been buoyant today, with an unexpectedly-large rise in Chinese exports helping to swell optimism in the stock market.
There is also a sense of relief that there have been no developments in the Syria situation, although it would be foolhardy to assume Syria will not come back into focus; if military strikes get the go-ahead, there is a good chance that tensions may rattle the markets again at least temporarily.
But the absence of any military actions by the US has left the stock market free to rally, with the Dow gaining 0.77% or 115 points to 15,037 by early afternoon in New York, while the NASDAQ 100 advanced to its highest level since November 2000.
Apple was among the tech companies pushing the NASDAQ higher, rising 1.7% to $506.70 ahead of an event at the company headquarters tomorrow at which the latest iPhone is widely expected to be launched. FBN Securities lifted its price target for Apple from $575 to $600, saying it expects the new iPhone to be available from 20 September.