16th Sep 2022. 7.36am
Morning Report – Friday 16th September
FTSE to open at 7,244 (-38 pts)
Stocks on Wall Street traded lower on Thursday despite better-than-expected economic data…
US retail sales for August increased 0.3%, beating forecasts of 0%, and initial jobless claims were lower than expected. Traders instead chose to focus on next week’s Fed rate decision, and the S&P moved lower to retest last week’s lows.
Overnight in Asia, stocks have followed Wall Street lower with the Hang Seng dropping -0.68%.
|S&P 500||-1.13%||Bearish for UK stocks|
|Hang Seng||-0.68%||Bearish for UK stocks|
|Gold||-0.21%||Neutral for UK stocks|
|AUD/JPY||+0.08%||Neutral for UK stocks|
|US 10yr Yield||+48pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE drift lower and retest the bottom of Wednesday’s range.
Yesterday’s daily range was the narrowest the FTSE has printed in over seven sessions and this indicates that volatility is contracting ahead of another directional move.
|UK Economic Announcements|
|(07:00) Retail Sales|
|International Economic Announcements|
|(15:00) U. of Michigan Confidence (Prelim) (US)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
This research is prepared for general information only and should not be construed as any form of investment advice.