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FTSE 100 Live: Bright start expected ahead of US inflation data

Published 26/01/2024, 07:01
© Reuters.  FTSE 100 Live: Bright start expected ahead of US inflation data
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Proactive Investors - Stocks called higher after US gains.

The FTSE 100 is expected to open higher after positive economic data sent US stocks higher.

Spread betting companies are calling London's lead index up 23 points after closing 2.06 points higher at 7,529.73 on Thursday.

Sentiment will also be boosted by news consumer confidence in the UK has reached its highest level in two years, according to GfK.

In the US on Thursday, Wall Street ended higher, with the Dow Jones Industrial Average up 0.6%, the S&P 500 up 0.5% and the Nasdaq Composite up 0.2%.

"Across the Atlantic, the US released its latest GDP update and the data was as good as it could possibly get," noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Economic growth forged ahead while inflation pressures - according to personal consumption expenditures index - eased during the fourth quarter.

Later today, PCE figures - the Federal Resewrve's preferred inflation gauge wiull be released.

Back in London, and the early focus will be updates from WH Smith (LON:SMWH), Superdry and YouGov (LON:YOU).

Read more on Proactive Investors UK

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