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The FTSE fell 0.1% as the morning progressed, dragged lower by its mining and banking stocks, with the DAX and CAC dropping by the same amount. There was slightly more movement in the forex markets, with the pound slipping half a percent against the euro, taking sterling below €1.18 for the first time in a fortnight.

Looking ahead to this afternoon and thankfully the US has one final splurge of pre-Christmas data to try and enliven the markets. The most important is the final third quarter GDP reading, which is expected to be revised to 3.3% from 3.2% (at the annualised rate). That would be the country’s best growth figure since the second quarter of 2015, a fact that could finally push the Dow Jones to 20000. Yesterday saw the Dow once again try, and fail, to hit that landmark level; now it sits 65 points away, with investors curiously unwilling to send the index to a fresh record peak. Elsewhere the durable goods orders, jobless claims, core PCE price index and personal spending readings are all scattered throughout the afternoon.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Connor Campbell

Connor Campbell

Connor joined Spreadex in 2014 as part of a newly expanded financial analyst team after graduating from the University of Southampton with an MA in English. His focus is on providing Spreadex's customers with up-to-date and informative news, and is responsible for the market analysis found on the Spreadex website.

Connor produces three daily market updates, a daily stock earnings preview, a weekly financial market preview piece every Friday, a round-up of all the big financial stories making the weekend press every Monday morning and regular stock market features.

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