London’s FTSE 100 is currently expected to start Thursday on the front foot, but only just.
Having started the New Year strongly, pushing to new highs, there’s now some pause for thought amid continuing uncertainties in the macroeconomic environment.
Attentions are pointed towards the US where tomorrow brings the closely followed non-farm payroll employment report, which will guide sentiment as markets anticipate upcoming interest rate decisions from the US Federal Reserve.
“Last nights Fed minutes reinforced US policymaker expectations that we could well see multiple rate rises this year after last month’s rate rise, though officials remained cautious given the lack of clarity on the type of fiscal expansion that might be forthcoming in the coming months,” said Michael Hewson, analyst at CMC Markets.
On Wednesday in New York the Dow Jones index closed 60 points, 0.3%, higher at 19,942 whilst the S&P 500 added 0.57% to end the session at 2,270. The Nasdaq, meanwhile, finished Wednesday’s trading up 0.88% at 5,477.
In Asia, Hong Kong’s Hang Seng this morning rose 1.47% to 22,462 while Japan’s Nikkei dipped 0.37% lower to 19,520. The Shanghai Composite was in positive territory, rising 0.25% to 3,166.
In London the FTSE 100 is seen slightly higher just over an hour before the open with CFD and spreadbetting firm IG Market calling the benchmark at 7,184 to 7,188.