Proactive Investors – The FTSE 100 is expected to open flat on Friday ahead of a key US inflation report later today.
Michael Hewson at CMC said: “As we bring down the curtain on Q3 we also have the latest US core PCE inflation numbers for February, and here the Federal Reserve will be hoping that there are signs that inflation is cooling here as well after the surprise spike to 4.7% in the January numbers, which prompted a sharp spike in US rate hike expectations just prior to the meltdown that we saw at the beginning of this month.”
“The jump higher in PCE core deflator also happened to coincide with a surge in January personal spending, which rose 1.8%.”
Ahead of that Friday’s economic calendar has a eurozone inflation reading, UK GDP current account data and a house price index reading from mortgage lender Nationwide.
In the US stocks made further progress on Thursday.
The Dow Jones Industrial Average jumped 141.43 points, or 0.4%, at 32,859.03. The S&P 500 gained 23.02 points, or 0.6%, at 4,050.83 and the Nasdaq Composite climbed 87.24 points, 0.7%, to 12,013.47.
In Asia on Friday, the Nikkei 225 index in Tokyo was up 1.0%. the Shanghai Composite firmed 0.3% and the Hang Seng index in Hong Kong gained 0.6%.
Back in London and the early focus will be results from Computacenter (LON:CCC) while Mothercare is set to release a trading statement.
Read more on Proactive Investors UK
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