4th Oct 2022. 7.44am
Regency View:
Morning Report – Tuesday 4th October
FTSE to open at 6,958 (+49 pts)
US stocks posted strong gains yesterday as the yield on treasuries dropped back from highs…
The S&P 500 closed up 2.6%, while the technology-heavy Nasdaq Composite added 2.3%. Both indices recorded their biggest daily increases since August.
In commodities, Brent crude jumped 4.4% to $88.86 a barrel, helped by news that the international producers’ alliance Opec+ was planning a substantial cut in output.
Overnight in Asia, the Hang Seng is closed for the Double Ninth festival while Japanese stocks mirrored the gains on Wall Street.
| S&P 500 | +2.59% | Bullish for UK stocks |
| Hang Seng | Closed | Neutral for UK stocks |
| Gold | +0.24% | Neutral for UK stocks |
| AUD/JPY | +0.11% | Neutral for UK stocks |
| US 10yr Yield | -165pts | Bullish for UK stocks |
Yesterday’s price action saw the FTSE daily rolling futures form a bullish reversal candle as buyers stepped in at support.
This morning’s pre-open price action has already broken above yesterday’s highs and this is a bullish sign.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| Inspiration Hlt (IHC) |
| Trading Announcements |
| Mondi (MNDI) |
| Greggs (GRG) |
| International Economic Announcements |
| (10:00) Producer Price Index (EU) |
| (15:00) Factory Orders (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.