2nd Sep 2022. 7.36am
Morning Report – Friday 2nd September
FTSE to open at 7,168 (+21 pts)
Stocks on Wall Street fought back from early losses to close in positive territory as economic data came in ahead of expectations…
US jobless claims hit 3-month low in a sign of robust labour market and US manufacturing activity remained steady in August as demand rebounds.
Vladimir Putin delivered a fresh threat to western efforts to curb surging energy prices. Moscow said on Thursday it would stop selling oil to countries that sought to impose a price cap on Russian oil and petroleum products.
All eyes will be on today’s non-farm payrolls number with consensus analyst estimates predicting that 300,000 jobs was added to the US economy in August.
|S&P 500||+0.30%||Bullish for UK stocks|
|Hang Seng||-1.11%||Bearish for UK stocks|
|Gold||+0.20%||Neutral for UK stocks|
|AUD/JPY||+0.07%||Neutral for UK stocks|
|US 10yr Yield||+65pts||Bearish for UK stocks|
Selling pressure continued to accelerate yesterday, taking the FTSE down into the bottom of the long-term wedge pattern that has been taking shape this year.
The market is now back within touching distance of the cluster of swing lows which formed during June and July.
|Time Finance (TIME)|
|International Economic Announcements|
|(07:00) Balance of Trade (GER)|
|(10:00) Producer Price Index (EU)|
|(13:30) Unemployment Rate (US)|
|(13:30) Non-Farm Payrolls (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.