The FTSE 100 is set for a weaker open on Wednesday, with spread-betters calling the index 36 points lower, mirroring expected declines across other major European markets. The London benchmark ended Tuesday marginally down, slipping 3 points to 9,642.
Wall Street delivered a mixed performance overnight. The Dow Jones fell 0.4%, dragged down by a 4% slide in JPMorgan after the bank warned of rising costs next year due to intensifying credit-card competition and heavier investment in AI.
The S&P 500 was essentially flat, easing 0.1%, while the Nasdaq edged 0.1% higher. The Russell 2000 small-cap index continued its recent momentum, adding 0.2% to set a new record high.
US futures are broadly unchanged ahead of the open, and Asian markets are mixed but relatively muted, offering little direction for the European session.
Analysts say the latest US indicators point to an economy cooling broadly in line with the Federal Reserve’s objectives — but not quickly enough to accelerate the path toward rate cuts. Inflation remains sticky and the labour market has yet to show the degree of softening that would prompt a faster policy shift.
In markets, sterling and the euro were marginally softer, while Wall Street ended mixed overnight and Asian equities drifted slightly lower. Gold eased back and Brent crude ticked higher.
On the corporate front, Berkeley Group releases its interim results and Volution holds its AGM. In the US, attention centres on the Federal Reserve’s policy decision, updated economic projections and the latest monthly budget statement.
