23rd Aug 2022. 7.48am
Morning Report – Tuesday 23rd August
FTSE to open at 7,485 (-48 pts)
Stocks on Wall Street suffered their biggest decline in two months on Monday…
The sell-off was lead by declines in the tech sector and concerns that members of the Federal Reserve will adopt a hawkish tone at a symposium this week.
Overnight in Asia, stocks have mirrored the sell-off on Wall Street as Japan’s factory output growth hits lowest level in 19 months.
|S&P 500||-2.14%||Bearish for UK stocks|
|Hang Seng||-1.28%||Bearish for UK stocks|
|Gold||-0.03%||Neutral for UK stocks|
|AUD/JPY||-0.41%||Bearish for UK stocks|
|US 10yr Yield||+28pts||Neutral for UK stocks|
Yesterday’s price action bounced from the short-term support level created by Thursday’s lows.
However, this morning’s pre-open price action has seen the the market start to break below short-term support.
|Ab Ignitis. S (IGN)|
|UK Economic Announcements|
|(09:30) PMI Manufacturing|
|(09:30) PMI Composite|
|(09:30) PMI Services|
|International Economic Announcements|
|(09:00) PMI Composite (EU)|
|(09:00) PMI Services (EU)|
|(09:00) PMI Manufacturing (EU)|
|(14:45) PMI Composite (US)|
|(14:45) PMI Manufacturing (US)|
|(14:45) PMI Services (US)|
|(15:00) New Homes Sales (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.