New to IG

Join the IG conversation on Community. "There's lots of talk about 'the smart money' banks, institutions, pension funds and the like but not much about the others side of the coin, 'the dumb money', why is that - it's because they just aren't influential to the market. The collective size of the dumb money is dwarfed by the big money to the point of being irrelevant."

Netflix announced subscriber growth of 8.8 million over the past year giving them a total of more than 139 million. Meanwhile, their quarterly revenue was up 27% from the same period in 2017 but the share price is down 3% as they failed to hit analysts’ expectations.

Mixed trade across the globe: Global equity indices have traded mixed in the last 24 hours. Asian trade was soft, European trade was poor, while US indices look as though they will deliver another day in the green. This may not be such a bad thing: perhaps the differing performance across regional indices is a sign of a more discerning market place. Panic about the global economic landscape has subsided for now, allowing traders to take a more nuanced view of the asset class. There is a degree of divergence happening again between US equities and the rest of the world – though it must be said the ASX is still following the lead of Wall Street. Optimism about fundamentals in the US is progressively being restored; that of the rest of the world is still in doubt.


US macro-outlook apparently strong: The notion the US economy is still on solid footing was supported by strong economic data last night. Both unemployment claims and the Philly Fed Manufacturing Index beat expectations, boosting confidence that the labour market and business activity is strong in the US. As has been repeated many-a-time throughout the recent stock-market funk, economic fundamentals could well be secondary or tertiary to other forces previously supporting equity markets.