15th Sep 2022. 7.45am
Morning Report – Thursday 15th September
FTSE to open at 7,302 (+25 pts)
Stocks on Wall Street steadied yesterday following the worst sell-off in two years on Tuesday…
The S&P 500 gained 0.34% after Tuesday’s drop of more than -4% following hotter than expected US inflation data.
Overnight in Asia, we’ve seen a mirroring of the moves on Wall Street with stocks in Hong Kong and Japan treading water.
All eyes will be on US retail sales numbers this afternoon, with analysts expecting no change for August.
|S&P 500||+0.34%||Bullish for UK stocks|
|Hang Seng||+0.26%||Bullish for UK stocks|
|Gold||-0.56%||Bullish for UK stocks|
|AUD/JPY||+0.41%||Bullish for UK stocks|
|US 10yr Yield||-5pts||Neutral for UK stocks|
Yesterday’s price action saw the FTSE edge lower after Tuesday’s large bearish engulfing candle.
A retest of the bottom of the long-term wedge consolidation (converging gold dotted lines) looks to be the most likely scenario.
|Regional Reit (RGL)|
|Igas Energy (IGAS)|
|Rtw Venture Fu. (RTW)|
|Foresight Solar (FSFL)|
|Oxford Biomedica (OXB)|
|Gresham House (GHE)|
|Downing Renewa. (DORE)|
|UK Economic Announcements|
|(00:01) RICS Housing Market Survey|
|International Economic Announcements|
|(13:30) Retail Sales Less Autos (US)|
|(13:30) Import and Export Price Indices (US)|
|(13:30) Initial Jobless Claims (US)|
|(13:30) Philadelphia Fed Index (US)|
|(13:30) Retail Sales (US)|
|(14:15) Industrial Production (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.