27th May 2022. 7.41am
Regency View:
Morning Report – Friday 27th May
FTSE to open at 7,551 (-14 pts)
Stocks on Wall Street were buoyed by strong earnings from domestic retailers Macy’s and Dollar Tree, easing concerns that consumer spending was slowing.
The S&P 500 rallied nearly 2% higher, taking the market up towards last week’s swing high at 4,105 – a key level of resistance.
Overnight in Asia, stocks have mirrored the improved risk appetite on Wall Street with shares in Hong Kong and Japan rallying.
| S&P 500 | +1.99% | Bullish for UK stocks |
| Hang Seng | +2.02% | Bullish for UK stocks |
| Gold | +0.16% | Neutral for UK stocks |
| AUD/JPY | +0.31% | Bullish for UK stocks |
| US 10yr Yield | +8pts | Neutral for UK stocks |
Yesterday’s price action saw the FTSE press higher – closing above Wednesday’s small bearish reversal candle and taking the market up into the descending line creating from the April and early-May swing highs.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Volvere (VLE) |
| International Economic Announcements |
| (12:30) Core Personal Consumption Expenditures – Price Index (YoY)(Apr) (US) |
| (12:30) Personal Income (MoM)(Apr) (US) |
| (14:00) Michigan Consumer Sentiment Index (May) (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.