Proactive Investors - 7.00am: FTSE 100 seen lower, unemployment, Vodafone (LON:VOD) the early focus
Good morning. The FTSE 100 is expected to slightly lower on Tuesday as Chinese retail sales and industrial production both fell short of expectations in April and with key debt ceiling talks in the US.
Spread betting companies are calling London’s lead index down by around 10 points.
Equities in New York pushed higher on Monday despite further signs the US economy is slowing down, with the Empire State manufacturing survey plunging in May.
US President Joe Biden will reconvene crunch debt talks today with senior Republican leaders including House Speaker Kevin McCarthy in another attempt to avert a costly US default.
On Wall Street, the Dow Jones Industrial Average rose 47.98 points, or 0.1%, to 33,348.60. The S&P 500 firmed 12.20 points, 0.3%, at 4,136.28 points while the Nasdaq Composite advanced 80.47 points, 0.7%, at 12,365.21.
In Asia, on Tuesday, the Nikkei 225 index was up 0.7%. The Shanghai Composite was down 0.3%, but the Hang Seng index in Hong Kong was up 0.1%.
Back in London and the early focus will be updates from boohoo, Greggs, Imperial Brands (LON:IMB) and Vodafone while economic data on unemployment and average earnings is due.