3rd Feb 2022. 7.46am
Morning Report – Thursday 3rd February
FTSE to open at 7,582 (-1 pt)
US stocks put in a fourth consecutive day of gains yesterday as strong earnings reports from Alphabet and chipmaker AMD lifted the technology sector.
The Hang Seng remains closed for Chinese New Year, but Japan’s Nikkei 225 has moved lower overnight.
Looking ahead, all eyes will be on the Bank of England’s rate decision and policy statement at lunchtime today.
|S&P 500||+0.94%||Bullish for UK stocks|
|Hang Seng||Chinese New Year||Neutral for UK stocks|
|Gold||-0.14%||Neutral for UK stocks|
|AUD/JPY||-0.03%||Neutral for UK stocks|
|US 10yr Yield||-16pts||Neutral for UK stocks|
We mentioned in yesterday’s Morning Report that the FTSE may find resistance at last week’s swing highs, and that’s exactly what we saw during yesterday’s session with the index printing a small bearish pin-bar.
If we see a break below yesterday’s low during the opening rotation then we could see a deeper retracement towards Monday’s lows.
|Omv Petrom S (PETB)|
|Bbva Ord (BVA)|
|Shell Plc (SHEL)|
|Virgin Wines (VINO)|
|UK Economic Announcements|
|(12:00) BoE Interest Rate Decision|
|(09:30) PMI Services|
|International Economic Announcements|
|(09:00) PMI Manufacturing (EU)|
|(12:45) ECB Interest Rate (EU)|
|(13:30) Initial Jobless Claims (US)|
|(15:00) Factory Orders (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.