2nd Jul 2021. 7.15am
Morning Report – Friday 2nd July
FTSE to open at 7,134 (+9 pts)
The S&P posted its sixth consecutive session of record highs yesterday – indicating that expectations are looking lofty as we head into today’s non-farm payrolls number.
Economists polled by Bloomberg forecast that the US economy added 700,000 jobs in June – driven by the leisure and hospitality industries.
Overnight in Asia, Chinese-related stocks continued their recent under-performance with Hong Kong’s Hang Seng index dropping amid speculation the Chinese central bank could begin tightening monetary policy.
|S&P 500||+0.52%||Bullish for UK stocks|
|Hang Seng||-1.82%||Bearish for UK stocks|
|Gold||+0.11%||Neutral for UK stocks|
|AUD/JPY||+0.07%||Neutral for UK stocks|
|US 10yr Yield||-0.86%||Neutral for UK stocks|
We highlighted in yesterday’s morning report that the long-tailed bullish candle which formed on Wednesday could lay the foundation for a strong session and that’s exactly what we saw…
The FTSE showed clear strength and closed near intra-day highs – taking the market up into the resistance zone once again.
|Reach Plc (RCH)|
|International Economic Announcements|
|(07:00) Retail Sales (GER)|
|(10:00) Producer Price Index (GER)|
|(13:30) Non-Farm Payrolls (US)|
|(13:30) Unemployment Rate (US)|
|(15:00) Factory Orders (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.