15th Oct 2021. 7.50am
Morning Report – Friday 15th October
FTSE to open at 7,232 (+25pts)
We saw another strong trading session on Wall Street yesterday, with all three major US indexes closing over 1.5% higher.
Encouraging earnings season updates helped to drive the rally, including better-than-expected quarterly figures from the Bank of America.
Asian stocks traced the gains made on Wall Street during the overnight session, boosted by upbeat results in Japan from technology stocks on the Nikkei 225.
|S&P 500||+1.71%||Bullish for UK stocks|
|Hang Seng||+1.20%||Bullish for UK stocks|
|Gold||-0.25%||Bullish for UK stocks|
|AUD/JPY||+0.42%||Bullish for UK stocks|
|US 10yr Yield||-1.32%||Bullish for UK stocks|
After breaking through and closing well above resistance from early September in yesterday’s trading, the next key level to monitor will be the FSTE 100’s current 52 week high at 7,224.
This level, last reached back in August, is particularly significant for the UK’s benchmark index. We’ll be watching to see if the strong upwards momentum can continue today with a close above it, marking what would be a new post-pandemic high.
|Rio Tinto (RIO)|
|James Halstead (JHD)|
|UK Economic Announcements|
|(00:01) RICS Housing Market Survey|
|International Economic Announcements|
|(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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This research is prepared for general information only and should not be construed as any form of investment advice.