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 137 points at 16,374, the NASDAQ finished down 29 points at 4096 and the S&P 500 ended the day down 12 points at 1872.

This morning in London: The FTSE 100 is currently down 18 points at 6783.

FX and commodities: GBP/USD is up nine pips at $1.6846, EUR/USD is up 17 pips at $1.3718 and USD/JPY is down 38 pips at ¥100.95. Brent crude is down three cents at $106.20 and gold is trading at $1293, down $1.

Stocks: Luxury goods retailer Burberry has met market expectations by posting an 8% increase in its annual profits, but markets will be more concerned with what lays ahead in the management change and the cooling Chinese economy. SSE has posted better-than-expected full-year figures with pretax profits up by 9.6%. Although it is news that will be welcomed by shareholders, it will no doubt annoy some members of the public.

The day ahead: UK monthly retail sales figures are released this morning, and we will also get to see how the Monetary Policy Committee members voted in the last bank rate setting meeting. In an equally busy afternoon we will hear from Charles Dudley and Federal Reserve chair Janet Yellen, along with seeing the minutes from the last Federal Open Market Committee meeting.

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. See full non-independent research disclaimer and quarterly summary.

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