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FTSE 100 Live: Bright start expected after tech-led US gains

Published 09/01/2024, 06:59
Updated 09/01/2024, 07:10
© Reuters.  FTSE 100 Live: Bright start expected after tech-led US gains
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Proactive Investors - FTSE 100 called higher after tech-led US rally.

The FTSE 100 is expected to open higher on Tuesday after US markets soared ahead of inflation figures later this week.

Spread betting companies are calling London’s lead index up by around 17 points after closing up 4.58 points at 7,694.19 on Monday.

In the US on Monday, technology stocks led the way with Nvidia hitting a new all-time high. The Dow Jones Industrial Average rose 0.6%, the S&P 500 advanced 2.4% and the Nasdaq Composite leapt 2.2%.

Michael Hewson at CMC Markets said: "The strong US finish seen last night looks set to ripple out into today’s European open with a solid start expected."

A sharp fall in the oil price boosted hopes that inflation will fall further in 2024 supporting reductions in interest rates.

Back in London, the early focus will be updates on festive trading from discount retailer B&M and from Games Workshop, responsible for the Warhammer games franchise, plus retail sales data from the British Retail Consortium.

Read more on Proactive Investors UK

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