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2nd Sep 2022. 7.36am

Regency View:

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+65ptsBearish for UK stocks
Regency Risk Barometer Snapshot

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.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Time Finance (TIME)
Ashmore (ASHM)
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)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.