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(Partial video transcript)
US CPI data
Good morning. Welcome to IG’s Early Morning Call. It’s Thursday the 10th of August. Let’s take a look at the headlines as we await what looks to be a stronger start across the European markets in today’s session.
It certainly seems like there’s going to be a key event later on that we’ll be pointing out for, which is going to be the CPI data out in States. That’s going to be key. If we see a strong number that could see an unwind of some of the early gains across the European markets.
All this comes as oil pushes higher, higher, and higher again. Yesterday we saw us crude near nine-month highs. Now this is the highest print that we’ve seen for 2023 with this big drawdown in US stockpiles printed just over six month highs.
And late last night we saw a mixed picture coming through from the entertainment giant Disney for the fiscal third quarter whilst earnings per share beat expectations. There’s been big concerns about subscribers amongst the streaming part of the business.
Volatility
Let’s take a look at volatility – down today, which indicates this appetite, I think, again, as we were saying yesterday, for risk assets across the markets. We’ve got a rise here in the London markets, we’re now very close to 7,600 level in the FTSE 100. The long-term picture, difficult to know whether we are going to see a continuation of the recent gains.
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