Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
London pre-open: Stocks seen flat ahead of US retail sales, earnings
(Sharecast News) - London stocks looked set for a flat open on Tuesday as investors eyed the latest US retail sales data and big earnings releases. Naeem Aslam, chief investment officer at Zaye Capital Markets, said: "Stock futures are trading a bit soft today as investors are hesitating to bet big ahead of some big earnings today.
"Basically, today is an action-packed day when it comes to earnings, and companies like Bank of America, Morgan Stanley, Bank of New York Mellon, and PNC Financial will be closely watched by investors and traders. So far, the banks that have reported earnings, have posted strong numbers as the higher interest rate environment has added more gains to their top line numbers.
"Having said this, traders and investors continue to trade very carefully as all the S&P 500 sectors closed in negative territory yesterday, but if you zoom out and look at the YTD performance of the index, it continues to unpack some stellar numbers. We are confident that as the odds of a soft landing continue to add up, there are greater chances that the US stock market is likely to perform well in the second half of this year as well.
"Traders will also be paying close attention to the US retail sales data, which will be released later today. The number is of high importance, as it will tell us the real conditions of US consumers and their ability to dig deep in their pockets. Due to the fact that recent inflation numbers have shown massive improvement, the odds are that we may actually see more improvement in consumer spending as the job market and wage earnings growth both remain stable to robust."
In UK corporate news, online supermarket Ocado held annual guidance after swinging to a core profit in its first half and said its retail earnings would be "marginally positive" for the full year.
The company posted a core profit of £16.6m compared with a loss of £13.6m a year earlier. Shares in the firm spiked last month on rumours of a possible bid from online giant Amazon.
Updates were also out from Just Group, Wise, Synthomer and Darktrace.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.