26th Apr 2022. 7.48am
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.
|AB Foods (ABF)|
|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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This research is prepared for general information only and should not be construed as any form of investment advice.