6th Sep 2021. 7.47am
Morning Report – Monday 6th September
FTSE to open at 7,164 (+26 pts)
Friday’s US non-farm payrolls came in well below expectations…
The US economy created just 235,000 jobs in August, a sharp decline from the previous month and miles below the 725,000 predicted by analysts.
The weak job data is a clear sign that the Delta variant is impacting on hiring plans – it also reduces the probability that the Fed will alter its current policy stance.
Please note: US stock markets are closed for Labor Day
|S&P 500||-0.03%||Neutral for UK stocks|
|Hang Seng||+0.79%||Bullish for UK stocks|
|Gold||-0.03%||Neutral for UK stocks|
|AUD/JPY||-0.02%||Neutral for UK stocks|
|US 10yr Yield||+3.19%||Bullish for UK stocks|
As the FTSE continues to chop sideways, last week’s range becomes a key short-term marker for gauging momentum.
With the US market closed today, we expect the majority of today’s price movement to come within the first hour of trading.
|Sylvania Pl (SLP)|
|Vector Capital (VCAP)|
|UK Economic Announcements|
|(09:30) PMI Construction|
|International Economic Announcements|
|(07:00) Factory Orders (GER)|
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This research is prepared for general information only and should not be construed as any form of investment advice.