26th Jul 2022. 7.46am
Morning Report – Tuesday 26th July
FTSE to open at 7,316 (+10 pts)
Stocks on Wall Street delivered a mixed performance yesterday ahead of a big week for Big Tech earnings and a crucial interest rate decision from the Fed.
While stocks in Hong Kong have rallied as traders continue to digest news of China’s $44bn fund to prop up its struggling property developers.
In Europe, Russia said it will cut gas supplies from Wednesday in a blow to European countries that have backed Ukraine. And missile attacks in Black Sea coastal regions have raised doubts about whether Russia will stick to a deal to let Ukraine export grain.
An extraordinary meeting of European energy ministers will take place in Brussels today.
|S&P 500||+0.13%||Bearish for UK stocks|
|Hang Seng||+1.64%||Bearish for UK stocks|
|Gold||+0.19%||Neutral for UK stocks|
|AUD/JPY||+0.17%||Bullish for UK stocks|
|US 10yr Yield||+13pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE push higher – taking the index back towards key resistance at 7,361 created by the June swing highs. We’ll be watching closely to see if today’s price action will retest this resistance area.
|Games Workshop (GAW)|
|Gore Street En. (GSF)|
|Franchise Brand (FRAN)|
|Compass Group (CPG)|
|Medica Group P. (MGP)|
|International Economic Announcements|
|(14:00) House Price Index (US)|
|(15:00) New Homes Sales (US)|
|(15:00) Consumer Confidence (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.