Spreadex financial analyst Connor Campbell discusses macro outlook on FTSE100, Wall Street and micro outlook on UK stocks – Nike (NYSE:NKE), J Sainsbury (LON:SBRY), and Merlin Entertainments (LON:MERL).
Key quotes
FTSE100 - Clients buying around 6800, Algeria meeting and the resulting oil price action could influence the index
Wall Street – Focus on presidential debate now
Nike – Caught in a twist. Profits aren’t falling but revenues aren’t rising as fast as expected as well. Hasn’t released noteworthy product off while, stronger dollar is also an issue
Sainsbury – Given it has performed poorly over two quarter even the slightest of good news could trigger a rally
Merlin Entertainments – weaker pound and Staycations (rise in tourism) positive for the stock. Fall below 460 mark in run up to release on Thursday