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 up 62 points at 15,191, the NASDAQ finished up 46 points at 3817 and the S&P 500 ended the day up 13 points at 1695.

This morning in London: The FTSE 100 is currently down 41 points at 6424.

FX and commodities: GBP/USD is down 11 pips at $1.6184, EUR/USD is down 13 pips at $1.3512 and USD/JPY is down 66 pips at ¥97.35. Brent crude is down 18 cents at $107.71 and gold is trading at $1288, down $1.

Stocks: Two major supermarkets released updates today: Tesco announced a 7.4% drop in six-month pre-tax profits, while Sainsbury’s reported a 2.1% increase in like-for-like sales for the 16 weeks until 28 September.

The day ahead: UK construction PMI is due out at 9.30am, followed by eurozone PPI at 10am, and the ECB rate decision will be announced at 12.45pm. In the US, ADP employment is due for release at 1.15pm. Ben Bernanke of the Federal Reserve will be making an announcement at 8.30pm.

All figures correct at 8.30am. All times London time.

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