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23rd Nov 2021. 7.46am

Regency View:

Morning Report – Tuesday 23rd November

FTSE to open at 7,211 (-44 pts)

Stocks on Wall Street put in a bearish reversal yesterday as Joe Biden’s decision to nominate Jay Powell to serve a second term as chair of the Federal Reserve received a mixed reaction from the market…

After initially pushing to new highs in early trading, US stocks gave up all their gains to close negative on the day – indicating that traders are skeptical Jay Powell has what it takes to navigate rising inflation and a waning economic recovery.

Overnight in Asia, stocks have followed Wall Street lower with the Nikkei 225 and Hang Seng in negative territory.

S&P 500-0.37%Bearish for UK stocks
Hang Seng-1.19%Bearish for UK stocks
Gold+0.19%Neutral for UK stocks
AUD/JPY-0.15%Neutral for UK stocks
US 10yr Yield+4.22%Bearish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE hold firm at the key support level we’ve identified in prior Morning Reports.

However, the FTSE futures have moved lower overnight and the market is set to retest yesterday’s lows at this morning’s open.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Final Results
Compass Group (CPG)
Avon Rubber (AVON)
Interim Results
Ao World (AO.)
Severn Trent (SVT)
Caledonia (CLDN)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.