11th Jan 2022. 7.44am
Morning Report – Tuesday 11th January
FTSE to open at 7,483 (+38 pts)
US tech stocks swung wildly yesterday with the Nasdaq composite index breaking to three-month lows in early trading before fighting back to close positive on the day.
We saw something similar on the S&P with the market forming a large bullish ‘pin-car’ candle and showing its first signs of selling exhaustion since the turn of the year.
Overnight in Aisa, stocks and the US dollar have struggled to find direction ahead of today’s comments from Fed Chair Jerome Powell.
|S&P 500||-0.14%||Neutral for UK stocks|
|Hang Seng||-0.18%||Neutral for UK stocks|
|Gold||+0.43%||Bearish for UK stocks|
|AUD/JPY||+0.27%||Bullish for UK stocks|
|US 10yr Yield||-4pts||Neutral for UK stocks|
The FTSE mirrored US stocks yesterday as it fought back from its early-session lows.
The market now looks to be forming a small ‘bull flag’ consolidation pattern.
|International Economic Announcements|
|10:20 ECB’s President Lagarde speech (EU)|
|15:00 Fed’s Chair Powell testifies (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.