29th Dec 2021. 7.43am
Morning Report – Wednesday 29th December
FTSE to open at 7,436 (+64 pts)
US stocks tread water yesterday after surging to new highs on Monday, ending a four-day winning streak.
While Asian stocks have weakened as the city of Xian in China entered its seventh day of lockdown after it reported 151 domestically transmitted COVID-19 infections.
|S&P 500||-0.10%||Neutral for UK stocks|
|Hang Seng||-1.02%||Bearish for UK stocks|
|Gold||-0.03%||Neutral for UK stocks|
|AUD/JPY||+0.09%||Neutral for UK stocks|
|US 10yr Yield||+0.28%||Bearish for UK stocks|
While the cash market has been closed for the holidays, the FTSE futures broke and closed above key resistance on Monday, albeit on thin volumes.
We’ll watching closely today to see if the cash market can maintain the breakout.
|International Economic Announcements|
|(15:00) US Pending Home Sales (Nov)|
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