26th Apr 2022. 7.48am
Regency View:
Morning Report – Tuesday 26th April
FTSE to open at 7,460 (+79 pts)
Stocks on Wall Street stabilised yesterday after two consecutive sessions of heavy losses…
The S&P 500 put in late afternoon rally as Treasury yields dropped back from recent highs – representing a pause in traders concerns over the impact of aggressive monetary tightening from the Fed.
While overnight, Asian stocks have also strengthened, with tech stocks boosted by news of Elon Musk’s $44bn takeover of Twitter.
| S&P 500 | +0.57% | Bullish for UK stocks |
| Hang Seng | +0.45% | Bullish for UK stocks |
| Gold | +0.27% | Bearish for UK stocks |
| AUD/JPY | +0.28% | Bullish for UK stocks |
| US 10yr Yield | -42pts | Bullish for UK stocks |
Yesterday’s price action saw the FTSE fight back from early-session lows to form a long-tailed ‘pin-bar’ candle.
Whilst this candle in isolation does not necessarily mark a new inflection point, it does provide traders with a short-term ‘line in the sand’ from which to monitor a potential recovery.
FTSE 100 Daily Rolling Futures – Key Levels
| Interim Results |
| AB Foods (ABF) |
| Focusrite (TUNE) |
| Trading Announcements |
| IWG (IWG) |
| Taylor Wimpey (TW.) |
| Jupiter Fund Management (JUP) |
| Flutter Ent (FLTR) |
| International Economic Announcements |
| (12:30) Durable Goods (US) |
| (12:30) Nondefense Capital Goods Orders (US) |
| (13:00) Housing Price Index (US) |
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Disclaimer:
This research is prepared for general information only and should not be construed as any form of investment advice.