What happened overnight – Tuesday 15th October 2024

In the U.S. markets overnight, the S&P 500 climbed 0.8%, hitting a new all-time high for the 46th time this year, while the Nasdaq advanced 0.9% and the Dow Jones rose 0.5%.

Nvidia played a major role in driving market gains, rising 2.4% and nearing its own record high.

A glance at the UK labor market report reveals that the unemployment rate unexpectedly dropped to 4.0% from 4.1%.

Meanwhile, average earnings including bonuses slowed to 3.8% in the three months leading to August, down from 4.0%, though slightly above the forecasted 3.7%. Excluding bonuses, earnings growth eased as expected, from 5.1% to 4.9%.

The FTSE 100 is expected to continue its upward trajectory on Tuesday, building on the momentum seen late yesterday as investors digest the latest unemployment data from the Office for National Statistics.

After gaining 39 points at the start of the week to close at 8,292.66, London benchmark futures indicate a rise of about 18 points this morning.


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