FTSE treading water with US jobs taking the spotlight

Danni Hewson

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

“The FTSE 100 was determinedly sitting on the fence on Friday morning as investors awaited the US jobs report which could set the tone for the tail-end of this trading week and for the beginning of next week too,” says AJ Bell financial analyst Danni Hewson.

“It’s hard to keep up with how the markets will react to different catalysts just now but the most likely scenario is that they would respond more positively to a disappointing number, on the assumption that this would keep central bank support, in the form of financial stimulus and low interest rates, in place for longer.

“The travel sector continued to see aftershocks from yesterday’s earthquake decision to remove Portugal from the green list of travel destinations from the UK. Hopes of anything approaching a normal summer for the industry now look pretty much over.

“Domestically the hospitality sector will be hoping that a full reopening is still on the cards for the 21 June but creeping concern about the threat posed by the Delta variant may send any decision on this to the wire – which is clearly exceptionally unhelpful for businesses.”

These articles are for information purposes only and are not a personal recommendation or advice.

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Written by:
Danni Hewson
Head of Financial Analysis

Danni Hewson is AJ Bell's Head of Financial Analysis. She joined the company in 2021 and is responsible for producing analysis and commentary across a broad range of subjects, from financial markets to economics and personal finance. She has a degree in English Language and Literature from DeMontfort University and a post-graduate diploma in Broadcast Journalism from Leeds Trinity University.

The daily market update is written by Russ Mould, AJ Bell’s Investment Director and his team. The article highlights the movement in the main index, winners and losers on the day and any macro-economic announcements.

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