24th Aug 2022. 7.45am
Morning Report – Wednesday 24th August
FTSE to open at 7,477 (-11 pts)
Stocks on Wall Street edged lower yesterday following Tuesday’s heavy losses, the S&P 500 is now more than -4% below last week’s highs.
Overnight in Asia, stocks are on track for their eighth straight day of losses after raft of weaker than expected economic data for the region deepened concerns about the health of the global economy.
|S&P 500||-0.22%||Neutral for UK stocks|
|Hang Seng||-1.25%||Bearish for UK stocks|
|Gold||-0.15%||Neutral for UK stocks|
|AUD/JPY||-0.42%||Bearish for UK stocks|
|US 10yr Yield||+28pts||Bearish for UK stocks|
Yesterday’s price action saw the market continue to pullback from last week’s highs.
The pace of the pullback remains orderly and there is short-term support at 7,455.
|Anglo Pacific (APF)|
|Argo Blockchai. (ARB)|
|International Economic Announcements|
|(12:00) MBA Mortgage Applications (US)|
|(13:30) Durable Goods Orders (US)|
|(15:00) Pending Homes Sales (US)|
|(15:30) Crude Oil Inventories (US)|
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This research is prepared for general information only and should not be construed as any form of investment advice.