9th Aug 2022. 7.45am
Morning Report – Tuesday 9th August
FTSE to open at 7,472 (-10 pts)
US stocks ticked lower yesterday as traders weight the outlook for rate rises against Friday’s strong non-farm payrolls.
Overnight in Asia, stocks have followed Wall Street lower with the Hang Seng currently -0.21% in the red and the Nikkei 225 down -0.88%.
|S&P 500||-0.12%||Neutral for UK stocks|
|Hang Seng||-0.21%||Neutral for UK stocks|
|Gold||-0.22%||Neutral for UK stocks|
|AUD/JPY||-0.17%||Neutral for UK stocks|
|US 10yr Yield||-93pts||Bullish for UK stocks|
Yesterday’s price action saw the FTSE press higher into the top of the inside day pattern that we highlighted in previous Morning Reports.
Importantly, the market could not close above the inside day highs and this makes the market vulnerable to a retest of the inside day lows.
|Abrdn Plc (ABDN)|
|TI Fluid Systems (TIFS)|
|InterContinental Hotels (IHG)|
|Flutter Ent (FLTR)|
|H&t Group Plc (HAT)|
|RPS Group (RPS)|
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This research is prepared for general information only and should not be construed as any form of investment advice.