18th Aug 2022. 7.45am
Regency View:
Morning Report – Thursday 18th August
FTSE to open at 7,503 (+13 pts)
Stocks on Wall Street came under pressure yesterday as minutes from the Federal Reserve’s most recent meeting signaled that restrictive rates may be needed “for some time”.
There was also a disappointing set of earnings from US retail giant Target who’s profits plunged 90% after it slashed prices on a backlog of unwanted clothes and home goods.
Overnight in Asia, stocks have moved lower as the US and Taiwan to begin trade talks as tensions with China escalate.
| S&P 500 | -0.72% | Bearish for UK stocks |
| Hang Seng | -0.98% | Bearish for UK stocks |
| Gold | +0.01% | Neutral for UK stocks |
| AUD/JPY | -0.16% | Neutral for UK stocks |
| US 10yr Yield | +94pts | Bearish for UK stocks |
Yesterday’s price action all but erased Tuesday’s break higher and prices are now back within the inside day range which formed on Monday.
We’ve seen this stuttering price action on multiple occasions during the July/August run higher.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Rank (RNK) |
| Omega Dia (ODX) |
| Eco Animal (EAH) |
| Interim Results |
| Antofagasta (ANTO) |
| Helios Towers (HTWS) |
| Intelligent Ult (IUG) |
| International Economic Announcements |
| (13:30) Continuing Claims (US) |
| (13:30) Initial Jobless Claims (US) |
| (13:30) Philadelphia Fed Index (US) |
| (15:00) Existing Home Sales (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.