Proactive Investors - FTSE 100 set to start the last trading day of the week on the front foot once more pushing above 7,800 ahead of the latest estimate of the strength of the UK economy and as the US reporting season gathers pace.
Spread betting companies are calling London’s blue chip index up by around 18 points.
US markets closed higher as in line inflation figures gave investors encouragement that pricing pressures were falling reducing the pressure on the Federal Reserve to keep hiking rates aggressively.
At the close the Dow Jones Industrial Average was up 216 points, or 0.64%, to 34,189, the S&P 500 was up 13 points, or 0.34%, to 3,983 and the Nasdaq Composite rose for the fifth day in a row, up 69 points, or 0.64%, topping the 11,000 mark at 11,001.
Daniele Antonucci, chief economist and macro strategist at Quintet Private Bank said that
“following two significant downside surprises in October and November, the December print was in line with expectations but still represents an important step in unwinding the pandemic-driven surge in inflation.”
Back in London, and the latest monthly assessment of the UK’s economy is due with November’s figure expected to show a fall in GDP after October’s rise.
A trading update is due from housebuilder Taylor Wimpey PLC but the main corporate interest will be in the US where the results season begins in earnest with reports from Wall Street banking giants including Bank of America, JPMorgan Chase, and Citigroup.
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