FTSE Falls From 2 And A Half Week High, US Jobs Data To Preview Nonfarm Friday

Despite Brent Crude hitting a 2-year high, the FTSE felt back on Thursday, retreating from Wednesday’s 2-and-a-half-week high close.

Shedding more than half a percent, the UK index dropped back below 7,060 after the bell, suffering from a spate of losses in its mining and banking divisions, and more pronounced falls for BT Group (LON:BT) and Kingfisher (LON:KGF).

Things were far calmer in the Eurozone, where both the DAX and CAC started the session essentially unchanged at 15,585 and 6,500 respectively.

As for the Dow Jones, it is heading for a 0.2%, or 65-point, drop after the bell, one that would knock it back below 34,550.

There’s a flurry of interesting US data to come out this afternoon, especially related to the labour market.

The ADP nonfarm employment change number is forecast to fall from 742,000 to 645,000 month-on-month, ahead of expectations of a rise from 266,000 to 645,000 for the official number tomorrow.

The usual Thursday jobless claims reading, meanwhile, is set to drop from 406,000 to 400,000. If accurate, that would be the lowest figure since the pandemic began.

Elsewhere, the final Markit services PMI from the States is expected to hold at 70.1, while the ISM reading is set to nudge higher, from 62.7 to a 63.0.

"Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.

In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved."

Original Post