Wall Street was spooked yesterday by manufacturing data, with the UK getting its own dose later this morning
The FTSE 100 is predicted to open up in a tentative fashion after the long weekend and ahead of the expected signing of a new trade deal between the UK and India.
London’s blue-chip benchmark is heading for a five-point decline, according to spread-betters on the IG platform.
Yesterday, while UK traders relaxed in the wind and rain of the bank holiday, Wall Street had a mixed time, with the Dow Jones up 238 points or 0.7% to above 34,000 mark and the S&P 500 rising 0.3% but the Nasdaq dropping 0.5%.
US bond yields also moved lower, the US dollar gave up much of its month-end gains from last week and gold powered higher to the brink of $1,800.00 an ounce.
The blame for all this was ISM manufacturing PMI data missing expectations quite noticeably.
“If nothing else, it shows just how much financial markets are wedded to the US recovery story leading the world out of the pandemic recession,” said market analyst Jeffrey Halley at Oanda.
The UK will have its own…
