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Dow Jones and FTSE 100 Forecast for the Week Ahead

Dow Jones and FTSE 100 Forecast for the Week Ahead

2019-10-27 10:00:00
Justin McQueen, Analyst
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DJI 2-Hour Chart

Equity Analysis and News

  • Dow Jones | Corporate Earnings, NFP and Federal Reserve to Drive the Index
  • FTSE 100 | Election Risks Rising While Brexit Deal Optimism Fades
Percent Change in Various Indices

Source: Thomson Reuters, DailyFX

Dow Jones | Corporate Earnings, NFP and Federal Reserve to Drive the Index

The Dow Jones has been among the underperforming assets throughout the week amid a raft of softer than expected earnings reports for index heavyweights, Boeing and Caterpillar. As we look towards next week, earnings will kick into high gear for US indices with the likes of Apple, Facebook, Google and Pfizer to announce their Q3 results.

Aside from company earnings, there will be plenty of key US data for market participants to digest. On Friday, we will see the US jobs report in which consensus is for a reading of 90k. The labour market is seemingly slowing down with the YTD average jobs gain of 168k from 223k in 2018. Elsewhere, preliminary Q3 GDP from both the Euro area and the US are due, while the Federal Reserve are expected to cut interest rates by another 25bps, however, given that this is largely priced in, the focus will center around Powell’s rhetoric as to whether another rate cut will take place in December.

US NFP Chart

FTSE 100 | Election Risks Rising While Brexit Deal Optimism Fades

FTSE 100 posted its largest weekly gain in 9-monthsas the Pound pulled back from its recent high amid the ongoing Brexit uncertainty. The EU have agreed to extend the Brexit deadline; however, they will wait for developments in UK parliament before announcing the length of time (decision expected on Monday or Tuesday). Meanwhile, UK PM Johnson has continued to face challenges in regard to his call for a general election on December 12th.

FTSE 100 Price Chart: Daily Time Frame (May 2019 – Sep 2019)

Daily FTSE 100 Price Chart

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--- Written by Justin McQueen, Market Analyst

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