23rd Aug 2022. 7.48am
Regency View:
Morning Report – Tuesday 23rd August
FTSE to open at 7,485 (-48 pts)
Stocks on Wall Street suffered their biggest decline in two months on Monday…
The sell-off was lead by declines in the tech sector and concerns that members of the Federal Reserve will adopt a hawkish tone at a symposium this week.
Overnight in Asia, stocks have mirrored the sell-off on Wall Street as Japan’s factory output growth hits lowest level in 19 months.
| S&P 500 | -2.14% | Bearish for UK stocks |
| Hang Seng | -1.28% | Bearish for UK stocks |
| Gold | -0.03% | Neutral for UK stocks |
| AUD/JPY | -0.41% | Bearish for UK stocks |
| US 10yr Yield | +28pts | Neutral for UK stocks |
Yesterday’s price action bounced from the short-term support level created by Thursday’s lows.
However, this morning’s pre-open price action has seen the the market start to break below short-term support.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Ab Ignitis. S (IGN) |
| Aferian (AFRN) |
| Rm (RM.) |
| UK Economic Announcements |
| (09:30) PMI Manufacturing |
| (09:30) PMI Composite |
| (09:30) PMI Services |
| International Economic Announcements |
| (09:00) PMI Composite (EU) |
| (09:00) PMI Services (EU) |
| (09:00) PMI Manufacturing (EU) |
| (14:45) PMI Composite (US) |
| (14:45) PMI Manufacturing (US) |
| (14:45) PMI Services (US) |
| (15:00) New Homes Sales (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.