1st Feb 2022. 7.43am
Morning Report – Tuesday 1st February
FTSE to open at 7,499 (+35 pts)
Stocks on Wall Street rallied in anticipation of strong numbers from tech titans Alphabet, Amazon and the Facebook owner Meta…
The broad-based S&P 500 index gained 1.9%, whereas the tech-heavy Nasdaq Composite index surged 3.4%, marking its best day since March 2021.
With Asian markets closed for Lunar New Year, European futures have tread water overnight as we head towards to opening bell.
|S&P 500||+1.89%||Bullish for UK stocks|
|Hang Seng||Lunar New Year||Neutral for UK stocks|
|Gold||+0.37%||Bearish for UK stocks|
|AUD/JPY||+0.05%||Neutral for UK stocks|
|US 10yr Yield||-15pts||Neutral for UK stocks|
Yesterday’s price action saw the FTSE print its narrowest range in over seven sessions – signalling that volatility is contracting after last week’s expansion…
In fact, the FTSE has formed two consecutive ‘inside days’, and we can start to see that price is being ‘funneled’ into a ‘wedge’ consolidation pattern.
|Aj Bell (AJB)|
|Joules Grp (JOUL)|
|Barr (A.G.) (BAG)|
|Gem Diamonds Di (GEMD)|
|International Economic Announcements|
|07:00 (GER) Retail Sales (YoY) (Dec)|
|09:00 (EUR) ECB Bank Lending Survey|
|15:00 (US) ISM Manufacturing PMI(Jan)|
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This research is prepared for general information only and should not be construed as any form of investment advice.