14th Oct 2022. 7.46am

Regency View:
Morning Report – Friday 14th October
FTSE to open at 6,943 (+93 pts)
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US stocks rallied sharply yesterday despite US inflation coming in hotter than expected…
The core CPI reading, which excludes food and energy prices, came in at 6.6%, above expectations of 6.5% and the previous month’s reading.
Asian stocks have mirrored the gains on Wall Street with the Hang Seng and Nikkei 225 up more than 2%.
S&P 500 | +2.60% | Bullish for UK stocks |
Hang Seng | +2.53% | Bullish for UK stocks |
Gold | +0.30% | Bearish for UK stocks |
AUD/JPY | +0.91% | Bullish for UK stocks |
US 10yr Yield | +49pts | Bearish for UK stocks |
Having momentarily broke below support, buyers stepped in to drive the market higher – printing a large bullish hammer candle in the process.
The next step for the bulls will be to swiftly break above the descending trendline which has formed in recent weeks.
Trading Announcements |
Jupiter Fund Management (JUP) |
Annual Report |
Thorpe (F.w) (TFW) |
International Economic Announcements |
(07:00) Wholesale Price Index (GER) |
(07:00) Consumer Price Index (GER) |
(10:00) Balance of Trade (EU) |
(13:30) Retail Sales (US) |
(13:30) Import and Export Price Indices (US) |
(15:00) U. of Michigan Confidence (Prelim) (US) |
(15:00) Business Inventories (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.