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10th Dec 2021. 7.29am

Regency View:

Morning Report – Friday 10th December

FTSE to open at 7,287 (-34 pts)

Wall Street dipped yesterday with tech stocks showing the highest level of weakness as traders took some risk off the table as the weekend approaches.

Overnight in Asia, Japan’s wholesale inflation hit a record 9.0% in November – a sign that supply bottlenecks and rising raw material costs are continuing to apply upwards pressure on prices.

Today, all eyes will be on this afternoon’s US CPI data, as the Fed looks to combat inflation via monetary tightening despite the uncertainty created by the Omicron variant.

S&P 500-0.72%Bearish for UK stocks
Hang Seng-0.88%Bearish for UK stocks
Gold-0.12%Neutral for UK stocks
AUD/JPY+0.19%Neutral for UK stocks
US 10yr Yield-1.41%Bullish for UK stocks
Regency Risk Barometer Snapshot

After last week’s whipsaw price action, this week’s strong directional move higher has given bulls plenty to cheer about.

A pullback from such a steep rally was almost inevitable, but to maintain the bullish momentum into next week, the FTSE will ideally need to end the week above 7,270.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Nexus Infrastr. (NEXS)
International Economic Announcements
(15:00) U. of Michigan Confidence (US)
(13:30) Consumer Price Index (US)
(07:00) Balance of Trade
(07:00) Gross Domestic Product
(07:00) Index of Services
(07:00) Manufacturing Production
(07:00) Industrial Production
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.