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FTSE / DOW YTD

FTSE100 set to firm at the open

StockMarketWire.com

The headline index is tipped to start the last session of the week marginally higher, according to financial websites, reversing some of yesterday's losses as attention switches to the US and its latest non-farm payroll data, due out later today.

Elsewhere, Wall St. closed slightly lower overnight and Asian markets were mixed in early trading.

US & ASIA

In the US last night, the Dow fell 5 points to close at 17,863, the Nasdaq lost 14 points at 5,128 and the S&P 500 slipped 2 points lower to 2,100.

In Asia today, the Nikkei was recently up 139 points at 19,260, while the Hang Seng was down 169 points at 22,885.

WTI crude oil traded at $45.43 a barrel and Brent at $48.26.

Gold settled at $1,109.25 an ounce

(ShareCast News) - All eyes will be on the US non-farm payrolls report on Friday as investors look for clues on the timing of the next rate hike, particularly after Federal Reserve Chairwoman Janet Yellen's hawkish comments on Wednesday.
Yellen said before the House financial services committee that the US economy was performing well and a rate hike next month was still a "live possibility".

"The committee does feel that moving in a timely fashion if the data and outlook justify such a move is a prudent thing to do because we will be able to move at a more gradual and measured pace," Yellen said.

Societe Generale said the US employment report this week will be critical in shaping market expectations of the December FOMC meeting.

Ironically, the October US jobs report will come close on the heels of a dovish MPC meeting and minutes which dashed many a traders hopes that Carney&Co. might be looking to prod markets into pricing in an earlier start to policy tightening.

"The average non-farm payroll gain in the previous six reports was 199,000, and in the past twelve reports was 229,000. The current consensus expectation for the October non-farm payrolls is 180,000 with the unemployment rate at 5.1%.

"A report with a headline number around 200K is likely to raise market pricing of a December rate hike, and pave the way to a further dollar advance, the bank said.

Industrial production figures are also set for release in the UK and Germany. ONS will also publish its data on visible trade at 09:30.

Company-wise there is little on the calendar save a trading update from Intu Properties and the latest traffic stats out of IAG.

http://www.moneyam.com/action/news/showArticle?id=5147886