7th Oct 2022. 7.43am
Morning Report – Friday 7th October
FTSE to open at 6,978 (-19 pts)
Stocks on Wall Street turned lower yesterday as traders grew nervous ahead of today’s non-farm payrolls.
The White House said nothing was off the table a day after Opec+ angered Washington with a cut of 2mn barrels a day to world oil supply.
Overnight in Asia, stocks have mirrored the losses on Wall Street with the Hang Seng and Nikkei 225 in negative territory.
|S&P 500||-1.02%||Bearish for UK stocks|
|Hang Seng||-1.32%||Bearish for UK stocks|
|Gold||-0.12%||Neutral for UK stocks|
|AUD/JPY||-0.37%||Bearish for UK stocks|
|US 10yr Yield||+92pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE daily rolling futures reject higher prices and close near lows for the day.
This reversal day has out a dent in the recent rally from support and leaves the market looking a bit vulnerable as we head into today’s US non-farm payrolls.
|UK Economic Announcements|
|(07:00) Halifax House Price Index|
|International Economic Announcements|
|(07:00) Balance of Trade (GER)|
|(07:00) Industrial Production (GER)|
|(07:00) Retail Sales (GER)|
|(13:30) Unemployment Rate (US)|
|(13:30) Non-Farm Payrolls (US)|
|(13:30) Wholesales Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.