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4th Oct 2022. 7.44am

Regency View:

Morning Report – Tuesday 4th October

FTSE to open at 6,958 (+49 pts)

US stocks posted strong gains yesterday as the yield on treasuries dropped back from highs…

The S&P 500 closed up 2.6%, while the technology-heavy Nasdaq Composite added 2.3%. Both indices recorded their biggest daily increases since August.

In commodities, Brent crude jumped 4.4% to $88.86 a barrel, helped by news that the international producers’ alliance Opec+ was planning a substantial cut in output.

Overnight in Asia, the Hang Seng is closed for the Double Ninth festival while Japanese stocks mirrored the gains on Wall Street.

S&P 500+2.59%Bullish for UK stocks
Hang SengClosedNeutral for UK stocks
Gold+0.24%Neutral for UK stocks
AUD/JPY+0.11%Neutral for UK stocks
US 10yr Yield-165ptsBullish for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE daily rolling futures form a bullish reversal candle as buyers stepped in at support.

This morning’s pre-open price action has already broken above yesterday’s highs and this is a bullish sign.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
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(10:00) Producer Price Index (EU)
(15:00) Factory Orders (US)
Today’s Financial Diary

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This research is prepared for general information only and should not be construed as any form of investment advice.