Equities are edging up this morning as investors are in bargain-hunting mode.
The strong finish in Asia overnight has encouraged dealers to buy back into the market. That being said, there still is political and economic uncertainty surrounding the US. For now, investors are viewing no news as good news.
Cineworld shares are higher this morning after the company posted an 11.6% jump in revenue. A high proportion of the rise in revenue was down to a handful of big movies like ‘Star Wars: The Last Jedi’, ‘Beauty and the Beast’ and ‘Dunkirk’. Cineworld has acquired Regal Entertainment in the US, and is now the second-largest cinema group in the world. The sector is coming under increased pressure from streaming sites, and now it has expanded its operation, will have to focus on improving the cinema experience to stay relevant.
Credit Suisse downgraded its outlook for Hammerson from neutral to outperform, and they cut their price target from 650p to 460p. Hammerson’s shares are down 5% at 435p.
At 12.30pm (UK time) the US jobless claims report is released, and the consensus is for 226,000, which would be an improvement on the previous report of 231,000.
Later today Dollar General releases its fourth-quarter results.
EUR/USD is largely unchanged after France revealed a cooling of the inflation rate. French CPI dipped to from 1.5% to 1.3%, meeting expectations. This shows us that French demand is dwindling, and could prevent the European Central Bank from altering its monetary policy.
We are expecting the Dow Jones to open up 62 points at 24,820 and we are calling the S&P 500 up 4 points at 2753.
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