19th Aug 2021. 7.42am
Morning Report – Thursday 19th August
FTSE to open at 7,066 (-103 pts)
The S&P recorded its worst drop in over a month yesterday as retail sales numbers disappointed…
US retail sales fell 1.1% in July compared to June, worse than the 0.3% decline expected – highlighting the impact of the Delta variant.
Overnight in Asia, the Chinese tech sell-off resumed with Hong Kong’s Hang Seng Index down more than 2% on that as it approaches its July lows.
|S&P 500||-1.07%||Bearish for UK stocks|
|Hang Seng||-2.08%||Bearish for UK stocks|
|Gold||-0.54%||Bullish for UK stocks|
|AUD/JPY||-0.40%||Bearish for UK stocks|
|US 10yr Yield||-0.50%||Neutral for UK stocks|
The FTSE quickly gave up its opening gains during yesterday’s session and the selling pressure accelerated on the futures late into the evening.
Prices have continued to fall away in early pre-open trading – indicating that short-term momentum is firmly bearish.
|Helios Towers (HTWS)|
|Intelligent Ult (IUG)|
|Tremor Int Ltd (TRMR)|
|International Economic Announcements|
|(13:30) Continuing Claims (US)|
|(13:30) Initial Jobless Claims (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.