FTSE 100 slips from best levels while Wall Street expected to open virtually flat
Companies
FTSE 100 slips from best levels while Wall Street expected to open virtually flat
The UK blue-chip index in positive territory while US markets set for muted start ahead of Federal Reserve s Beige Book of economic conditions
FTSE 100 adds 11 points
Dow forecast to start unchanged
Wizz Air loses altitude
12.42pm: US markets seek direction
After a fairly uneventful close on Wall Street on Tuesday, things do not look to have changed much, with the opening calls looking far from dramatic.
The Dow Jones Industrial Average is forecast to edge up 22 points or 0.1%, while the S&P 500 and Nasdaq Composite are also expected to be virtually unchanged.
FTSE 100 ends back in the green; S&P 500 climbs toward a record in the US
Companies
FTSE 100 ends back in the green; S&P 500 climbs toward a record in the US
The UK blue-chip index was supported by fashion group and oil companies, while Wall Street edged higher at midday in the US
FTSE 100 up 28 points
US stocks pick up
5.04pm: June off to to a positive start for markets
The FTSE 100 closed Wednesday up 28 points, 0.4%, at 7,108, while the FTSE 250 gained 58 points, 0.3%, to 22,933. The second day of June has been another broadly positive one for stock markets, although gains on the FTSE 100 have been somewhat muted, IG Chief Market Analyst Chris Beauchamp wrote. Markets are making steady progress this afternoon, although a lack of macro drivers have left things a little dull. However, ‘never short a dull market’ is a key adage for investors and traders, and remains an important principle to remember, especially when the urge to ‘sell in May (or June) and go away’
10:00 AM:
ISM Manufacturing Index for May. The consensus is for the ISM to be at 61.0, up from 60.7 in April. The employment index was at 55.1% in April, and the new orders index was at 64.3%.
10:00 AM:
10:30 AM:
Dallas Fed Survey of Manufacturing Activity for May. This is the last of the regional surveys for May.
All day:
Light vehicle sales for May. The consensus is for light vehicle sales to be 18.0 million SAAR in May, down from 18.5 million in April (Seasonally Adjusted Annual Rate).
Wards Auto is forecasting a decline in sales to 16.5 million SAAR.
This graph shows light vehicle sales since the BEA started keeping data in 1967. The dashed line is the sales rate for last month.
April 15, 2021 - Written by John Cameron
GBP/USD Exchange Rate Steady as US Retail Sales Beat Forecasts
The Pound US Dollar (GBP/USD) exchange rate held steady this morning after the ‘Greenback’ was undermined by a dovish Federal Reserve. The Fed’s Chairman Jerome Powell suggested that it was unlikely that the bank would raise interest rates until as late as next year.
The pairing is currently fluctuating around $1.37.
Added to this, demand for the safe-haven ‘Greenback’ have been undermined by growing confidence in the global economy.
In US economic data, today saw the release of March’s retail sales figure, which beat forecasts and rose by 9.8%.
The key reports this week are March housing starts, CPI and retail sales.
For manufacturing, the March Industrial Production report and the April NY and Philly Fed manufacturing surveys will be released this week. - Monday, Apr 12th - - Tuesday, Apr 13th -
Small Business Optimism Index for March.
8:30 AM: The
Consumer Price Index for March from the BLS. The consensus is for 0.5% increase in CPI, and a 0.2% increase in core CPI. - Wednesday, Apr 14th -
mortgage purchase applications index.
12:00 PM:
2:00 PM: the
Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.