Monday morning snapshot

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

Friday night in the US: The Dow Jones closed down 28 points at 16,302, the NASDAQ finished down 42 points at 4276 and the S&P 500 ended the day down five points at 1866.

This morning in London: The FTSE 100 is currently down 12 points at 6545.

FX and commodities: GBP/USD is down two pips at $1.6486, EUR/USD is up three pips at $1.3796 and USD/JPY is up 19 pips at ¥102.46. Brent crude is down 27 cents at $106.63 and gold is trading at $1322, down $10.70.

Stocks: Tullow Oil aims to set the benchmark for oil firms by giving the clearest picture of costings when securing new sites. Sainsbury's and Tesco continue to bicker in the courts over the war of words regarding price promises. An extension to Sainsbury’s current case looks likely to drag this on even more. Ofgem’s review of the energy sector is widely expected to shake things up and potentially dismantle the current structure for the big six firms.

The day ahead: Weak HSBC Chinese manufacturing purchasing manufacturing index data has added to the negativity of Friday afternoon’s selloff in the US. We will also see manufacturing data from France, Germany and the EU this morning, followed by the US version in the afternoon.

All figures correct at 8.15am. All times London time.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.