19th October 2017
The FTSE 100 wasn’t quite as bullish as the US yesterday, as it failed to push above the 7550 level, while the Dow climbed steadily to pull away from the 23,000 level and both that and the S&P continue to make record highs. Earnings data is coming through positively in the US, while UK data yesterday showed unemployment at its lowest level ever, though wage growth is still sluggish. Coupled with the 3% inflation figure released earlier in the week, there is a bit of a dichotomy for the BoE with regard to rates. More than 80 percent of the 52 members of the S&P 500 Index that have already reported earnings for the most recent quarter beat analysts’ forecasts.
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