21st Dec 2021. 7.43am
Regency View:
Morning Report – Tuesday 21st December
FTSE to open at 7,281 (+83 pts)
Wall Street fell to within touching distance of its December lows yesterday as positive COVID-19 case counts rose and President Joe Biden’s social spending and climate bill hit a significant setback.
Asian shares have shrugged off the Wall Street sell-off and are set to post their strongest day in over two weeks, with the Hang Seng and Nikkei 225 up more than 1.3%.
European futures have also been given a lift in early trading, albeit on thin volumes as we head into the holidays.
S&P 500 | -1.14% | Bearish for UK stocks |
Hang Seng | +1.37% | Bullish for UK stocks |
Gold | +0.04% | Neutral for UK stocks |
AUD/JPY | +0.35% | Bullish for UK stocks |
US 10yr Yield | +3.25% | Bearish for UK stocks |
The FTSE futures fought back in impressive fashion yesterday, forming a very large ‘hammer’ candle pattern at the support zone.
Futures prices have continued higher overnight to mark a strong turnaround as we head into the open, setting the market up for a Santa rally!
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.