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2nd Feb 2022. 7.45am

Regency View:

Morning Report – Wednesday 2nd February

FTSE to open at 7,570 (+34 pts)

Stocks on Wall Street closed higher yesterday despite disappointing economic data which showed US manufacturing activity fell to a 14-month low in January.

While in after-hours trading shares in Google parent, Alphabet soared nearly 9% as an unexpectedly strong surge in search advertising revenue raised hopes that the internet group’s momentum would continue as the pandemic recedes.

Overnight, it’s been a quiet Asian session due to New Year celebrations, but oil has pushed toward last week’s seven-year highs as a draw in US crude stocks confirmed strong demand and a lack of supply.

S&P 500+0.69%Bullish for UK stocks
Hang SengChinese New yearNeutral for UK stocks
Gold-0.18%Neutral for UK stocks
AUD/JPY+0.13%Neutral for UK stocks
US 10yr Yield-12ptsNeutral for UK stocks
Regency Risk Barometer Snapshot

Yesterday’s price action saw the FTSE push higher and close near last week’s highs.

We may see the market find some resistance at these swing highs as we head into tomorrow’s Bank of England rate decision.

FTSE 100 Daily Rolling Futures – Key Levels

FTSE 100 Daily Rolling Futures – Key Levels
Trading Announcements
Glencore (GLEN)
Vodafone (VOD)
Severn Trent (SVT)
International Economic Announcements
10:00 (EUR) Consumer Price Index (YoY)(Jan)
13:15 (US) ADP Employment Change (Jan)
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.