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29th Sep 2021. 7.47am

Regency View:

Morning Report – Wednesday 29th September

FTSE to open at 7,032 (+4 pts)

US stocks were pummeled yesterday as fears of ‘stagflation’ loomed large…

The S&P 500 dropped more than 2% with tech stocks hit the hardest as expectations of interest rate increases, higher inflation and slower economic growth put the S&P’s long-term bull run into question.

Overnight in Asia, we’ve seen markets Chinese stocks tread water, and Japanese stocks move lower as we head into the European open.

S&P 500-1.13%Bearish for UK stocks
Hang Seng-1.10%Bearish for UK stocks
Gold+0.54%Bearish for UK stocks
AUD/JPY-0.18%Neutral for UK stocks
US 10yr Yield+73ptsBearish for UK stocks
Regency Risk Barometer Snapshot

We mentioned in yesterday’s Morning Report that two bearish ‘pin-bar’ candles in three sessions signaled weakness, and we saw the market move lower.

It’s worth noting that the FTSE’s sell-off was nowhere near as severe as the S&P, and prices seem to be tracking the broken descending trendline as the market retraces.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Interim Results
Thungela Res (TGA)
Mti Wireless (MWE)
UK Economic Announcements
(00:01) RICS Housing Market Survey
International Economic Announcements
(07:00) Wholesale Price Index (GER)
Today’s Financial Diary

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Disclaimer:

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