The FTSE 100 is poised for a lower opening on Friday, despite a positive close on Wall Street, as the market anticipates crucial data on US inflation and UK GDP and retail sales.
Spread bettors predict a drop of about 16 points for London’s leading index, following its Thursday close down by 20.95 points at 7,694.73.
The UK faces a potential recession following updated figures from the Office for National Statistics, which revealed a contraction in the economy during the third quarter.
According to the revised data, the GDP fell by 0.1% in the three months leading up to September.
A technical recession is characterized by two successive quarters of economic decline. The UK entered the fourth quarter with a 0.3% decrease in October.
In the US, the markets closed higher on Thursday, with the Dow Jones Industrial Average gaining 0.9%, the S&P 500 increasing by 1.0%, and the Nasdaq Composite rising by 1.3%.
Post-market close in London, attention will turn to the US personal consumption expenditures price index, a key inflation indicator favoured by the Federal Reserve.
Among the stocks to monitor is JD Sports Fashion, particularly in light of Nike’s recent pessimistic forecast.
