Live: FTSE 100 to open higher after Wall Street record

The UK’s blue chip index, the FTSE 100, is set to open higher this morning following a record close on Wall Street overnight.

The S&P 500 added 0.8 per cent to reach a new all-time high, surpassing the record set the previous week. The Dow Jones Industrial Average and the Nasdaq composite also posted solid gains of 0.8 per cent and 0.98 per cent, respectively.

Markets surged on the back of weaker-than-expected US employment data. Data from private payroll provider ADP showed there were just 54,000 private sector jobs created last month, while data from the Labor Department showed initial filings for unemployment insurance tallied 237,000 last week, the most since June.

Investors and traders took the weakening jobs figures as yet another sign the Federal Reserve will continue with its easing cycle and cut interest rates further in the coming months.

Meanwhile, the price of gold, a traditional safe-haven asset, hit another record high as investors sought refuge from global uncertainties.

Meanwhile, crude oil prices were weighed down by concerns about oversupply, as speculation grew that OPEC+ might increase its production