8th Dec 2021. 7.45am
Morning Report – Wednesday 8th December
FTSE to open at 7,329 (-11 pts)
Wall Street posted its biggest one-day gain since March yesterday as fears over the severity of the Omicron variant subsided, and Chinese authorities showed a willingness to stimulate the country’s slowing economy.
Asian stocks have had a mixed session with Japanese stocks continuing Wall Street’s rally, but Chinese stocks lagging due to news that Beijing will tighten rules for tech companies seeking foreign funding.
|S&P 500||+2.07%||Bullish for UK stocks|
|Hang Seng||-0.02%||Neutral for UK stocks|
|Gold||+0.35%||Bearish for UK stocks|
|AUD/JPY||-0.04%||Neutral for UK stocks|
|US 10yr Yield||+2.73%||Bearish for UK stocks|
The strong drive higher continued to gather momentum yesterday and prices are now back within 70 points of their November highs.
This has been a near vertical 300 point rally from last week’s lows, so it wouldn’t be too surprising to see the market take a pause for breath and consolidate sideways for a few sessions.
|SSP Group (SSPG)|
|Berkeley Group (BKG)|
|International Economic Announcements|
|(12:00) MBA Mortgage Applications (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.