28th Jul 2022. 7.47am
Regency View:
Morning Report – Thursday 28th July
FTSE to open at 7,391 (+43 pts)
US stocks rallied sharply yesterday after Fed Chair Jay Powell suggested that rate hikes may slow…
The central bank announced its second 0.75% rate rise in two months, but during the press conference Mr Powell said “at some point it will be appropriate to slow down” – causing the S&P 500 to surge higher.
In Asia, stocks have not followed Wall Street higher, instead they have quietly consolidated.
| S&P 500 | +2.62% | Bullish for UK stocks |
| Hang Seng | -0.18% | Neutral for UK stocks |
| Gold | +0.36% | Bearish for UK stocks |
| AUD/JPY | -0.62% | Bearish for UK stocks |
| US 10yr Yield | -34pts | Bullish for UK stocks |
After seemingly rejecting resistance on Tuesday, the FTSE broke and closed above resistance yesterday, maintaining the bullish momentum of recent weeks.
However, it’s worth noting that the breakout came during US trading hours.
Should the breakout hold firm, there is very little resistance on the chart prior to the 7,600 cluster of highs.
FTSE 100 Daily Rolling Futures – Key Levels
| Final Results |
| Srt Marine Sys. (SRT) |
| Grafenia (GRA) |
| Interim Results |
| Relx (REL) |
| Rentokil Initial (RTO) |
| Jupiter Fund Management (JUP) |
| Smith & Nephew (SN.) |
| Barclays (BARC) |
| Rathbone (RAT) |
| St James Place (STJ) |
| Primary Health (PHP) |
| Segro (SGRO) |
| Inchcape (INCH) |
| Hammerson (HMSO) |
| Centrica (CNA) |
| Robert Walters (RWA) |
| Restore (RST) |
| Q2 Results |
| Smith & Nephew (SN.) |
| Shell Plc (SHEL) |
| Samsung El.gdr (SMSN) |
| Trading Announcements |
| Evraz (EVR) |
| Aveva Group (AVV) |
| Sage Group (SGE) |
| Virgin Wines (VINO) |
| International Economic Announcements |
| (10:00) Consumer Confidence (EU) |
| (10:00) Economic Sentiment Indicator (EU) |
| (10:00) Services Sentiment (EU) |
| (10:00) Business Climate Indicator (EU) |
| (10:00) Industrial Confidence (EU) |
| (13:30) Initial Jobless Claims (US) |
| (13:30) GDP (Preliminary) (US) |
| (13:30) Continuing Claims (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.