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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This information has been prepared by IG, a trading name of IG Markets Limited and IG Markets South Africa 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. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance and may not use credit or debit cards to fund their international account.