28th Jun 2022. 7.47am
Morning Report – Tuesday 28th June
FTSE to open at 7,317 (+59 pts)
Wall Street’s recovery ran out of steam yesterday with the S&P 500 edging lower after strong gains on Friday.
Oil prices have pushed higher despite G7 members exploring ways of curbing energy costs, including possible caps on the price of oil and gas.
Overnight in Asia, the Hang Seng is set for its fourth consecutive session of gains after China’s central bank governor pledged to maintain an accommodative monetary stance and stressed that its inflationary outlook was “stable”.
|S&P 500||-0.30%||Bearish for UK stocks|
|Hang Seng||+0.62%||Bullish for UK stocks|
|Gold||+0.30%||Bearish for UK stocks|
|AUD/JPY||+0.57%||Bullish for UK stocks|
|US 10yr Yield||+74pts||Bearish for UK stocks|
As mentioned in yesterday’s Morning Report, Friday’s strong, counter-momentum rally could setup a more substantial rally back towards the 7,400 mid-range area.
|Wise Plc (WISE)|
|International Economic Announcements|
|(08:00) ECB’s President Lagarde speech|
|(13:00) US Housing Price Index (MoM)(Apr)|
|(13:00) S&P/Case-Shiller Home Price Indices (YoY)(Apr)|
|(14:00) US Consumer Confidence (Jun)|
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This research is prepared for general information only and should not be construed as any form of investment advice.