Live: FTSE 100 set to open higher after Wall Street rally
The FTSE 100 looks set to open higher this morning after Wall Street rallied into the close last night.
US markets rose following labour market data, which suggested job openings had fallen in the world’s largest economy. The data left investors feeling even more confident Fed officials will cut rates at their September meeting.
Elsewhere, shares in tech giant Google jumped more than nine per cent following an antitrust ruling that shielded the tech giant from a worst-case scenario – a breakup of the group.
Following the announcement, traders pushed the stock to a new all-time high and the company’s valuation jumped to nearly $3 trillion.
In the UK today, traders will be watching S&P Global’s Construction PMI, which will be released this morning at 9:30 am.
Yesterday, it was reported a surge in new business helped Britain’s services sector grow by the most in more than a year last month. The S&P Global Purchasing Managers’ Index for Britain’s services sector rose to 54.2 in August from 51.8 in July, reaching its highest level since April 2024.
In the US, jobless claims data will be published.
Before the market open in London, the FTSE 100 is set to open slightly higher and gold seems to be taking a breather after its recent run. The yellow metal is trading down $26 an ounce at $3,532. The pound is weaker against the US dollar at $1.343.
