Wednesday morning snapshot

A snapshot of the early morning's equity news and key market movements.

Last night in the US: The Dow Jones closed down 76 points at 15,177, the NASDAQ finished down 20 points at 3445 and the S&P 500 closed down nine points at 1631.

This morning in London: The FTSE 100 is currently down 33 points at 6524.

FX and commodities: GBP/USD is down two pips at $1.5311, EUR/USD is five pips lower at $1.3078 and USD/JPY is down 27 pips at Y99.76. Brent Crude is up 47 cents at $103.62 and gold is trading at $1400, down $1.

Stocks: Tesco reported a 1% drop in like-for-like sales for the past three months, compared with the same period last year.

The day ahead: In Europe, UK services PMI is due at 9.30am, followed by eurozone GDP and retail sales at 10am.

In the US, ADP employment change is out at 1.15pm and non-farm productivity will be announced at 1.30pm. ISM non-manufacturing PMI and factory orders are expected at 3pm (all London times).

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