Latest News

FTSE 100 Live: Stocks seen flat after mixed tech earnings and ahead of US rate call


FTSE 100 Live: Stocks seen flat after mixed tech earnings and ahead of US rate call By Proactive Investors

Breaking News


Stock Markets

Published Jan 31, 2024 07:00
Updated Jan 31, 2024 07:10

© Reuters. FTSE 100 Live: Stocks seen flat after mixed tech earnings and ahead of US rate call

Proactive Investors – FTSE 100 seen little changed after mixed tech earnings, ahead of US rate call.

The FTSE 100 is expected to open marginally higher on Wednesday as the market awaits the interest rate decision and commentary from the US Federal Reserve.

Spread betting companies are calling London’s blue-chip index up by around 3 points after closing up 0.4% at 7,666.31 on Tuesday.

In the US, markets closed mixed with losses for the Nasdaq and S&P 500 but a gain for the Dow Jones.

After London’s close today, the US central bank is widely expected to leave interest rates unchanged with the focus squarely on comments by Fed chair Jerome Powell on the timing of any future rate cuts.

Roman Ziruk at global financial services firm Ebury thinks the Fed will use Wednesday’s policy meeting to “strike a slightly less dovish tone.”

“The Fed will likely make a hawkish comment on the excessiveness of market expectations for rate cuts in March, especially in the context of recent economic data which points to rather strong US consumer demand and a tight labour market,” he said.

“We have seen an upwards surprise in both US retail sales and GDP growth recently, so I would not be surprised if the Fed incorporated this into their communications,” he added.

After Tuesday’s close in New York earnings from Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT) and AMD (NASDAQ:AMD) failed to spark further gains in share prices with Alphabet down 5.2% and AMD losing 6.5%. Microsoft fared better, down 0.3%.

Ipek Ozkardeskaya at Swissquote Bank said: “Anything less than mind-blowing is weak at the current valuations. Therefore, profit taking in Microsoft and elsewhere is perhaps on today’s menu.”

Back in London, and an update from GSK (LON:GSK) will be the main early focus.

Read more on Proactive Investors UK


FTSE 100 Live: Stocks seen flat after mixed tech earnings and ahead of US rate call

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2024 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Alibaba Stock (NYSE:BABA): New Bullish Catalysts Have Emerged

Previous article

Oil falls on weak China data but set for first monthly gain since Sept

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News