1st Jun 2022. 7.45am
Morning Report – Wednesday 1st June
FTSE to open at 7,616 (+9 pts)
Stocks on Wall Street drifted lower yesterday, but managed to end a volatile month in positive territory…
The S&P 500 ended the month of May with a marginal 0.01% gain after being whipsawed for much of the last four weeks on concerns over inflation and the path of monetary policy.
Overnight in Asia, Chinese-related stocks have edged lower after strong gains earlier in the week, while Japanese stocks have broken to five-week highs.
|S&P 500||-0.63%||Bearish for UK stocks|
|Hang Seng||-0.79%||Bearish for UK stocks|
|Gold||-0.16%||Neutral for UK stocks|
|AUD/JPY||+0.45%||Bullish for UK stocks|
|US 10yr Yield||+43pts||Bearish for UK stocks|
Yesterday’s price action saw the FTSE break above resistance only to retreat and close lower on the day – forming a small bearish pin-bar candle.
Should the market break below yesterday’s low, we could see an acceleration of selling pressure as we head into the long weekend.
|International Economic Announcements|
|(06:00) German Retail Sales (YoY)(Apr) (EUR)|
|(11:00) ECB’s President Lagarde speech (EUR)|
|(14:00) ISM Manufacturing PMI (May) (US)|
Don’t have a Regency account yet?
Start receiving our actionable Market Alerts and Analysis with real-time email and SMS alerts throughout your trading day. Simply click below to create your account for free.Create Account
This research is prepared for general information only and should not be construed as any form of investment advice.