FTSE 100 Live: Focus on US non-farm payrolls, Brent oil rises

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Employment data in the United States has the potential to move markets later today as speculation continues that Federal Reserve policymakers may begin to ease economic support.

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This afternoon’s release of monthly non-farm payrolls is expected to show the country’s unemployment rate is at a post-pandemic low, triggering a taper from the Fed’s move later this year. However, a depressing figure has the potential to fuel further inflationary concerns.

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It’s been a wild week for energy prices, with a barrel of Brent crude trading today near $83 and natural gas futures still trading highs around 255p per therm.

live update

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Asda launches one-hour delivery service in around 100 stores

Asda has designated its 96 stores from where one-hour delivery express service will be offered, as grocers want to offer customers more shopping options.

Stores where it will be offered include Asda’s Old Kent Road and Isle of Dogs Store.

The supermarket chain, in which the Issa brothers, Zuber and Mohsin and private equity firm TDR Capital have bought a majority stake, said in June that its new ‘super speedy service’ would roll out in three branches after a trial run.

See full list of stores, service is being expanded to HERE.

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fade taper focus

This afternoon’s focus is on US non-farm payrolls data, which most observers think will determine whether the Federal Reserve’s lack of economic stimulus is a bargain. However, weak job numbers have the potential to fuel fears of a stagflationary slowdown.

Last month’s figure beat expectations after a 235,000 increase in payrolls, while economists at Deutsche Bank for the month peg a growth of more than 400,000 and the unemployment rate reaching a post-pandemic low of 5.1%.

Oanda’s senior market analyst Jeffrey Haley warned: “I don’t believe the Fed tapers into the market’s price and its effects are on any major scale yet. Even a weak number is probably just another one. delays the inevitable for months.

“Still, there is a lot of binary outcome for tonight’s figures. A number below 500,000 buy everything, sell US dollars. A number equal to 500,000 and above sell everything but US dollars. .

Investors in China have returned from the week-long Golden Week holiday, with the plight of debt-laden Evergrande as their main focus, with stocks of several developers and property firms falling sharply. However, there was some buoyancy from the country’s economy, although the PMI data points to an improvement in service sector activity.

The FTSE 100 index will open roughly at 7,080, ending another week of uncertainty for investors amid inflationary pressures due to rising energy prices.

Natural gas futures are showing more signs of stabilizing at around 255p per therm, but Brent crude is up 1% to $83 a barrel today, amid signs that the industry is looking to hedge the risk of a higher gas price raising the fuel. changing from.

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