Non-farm Friday - key things to look out for
Market Movers
Non-farm payrolls 12:30 today is key event to look our for today.
Pound
The Pound retreats after the rate hike yesterday. The interest rate outlook -"one and done" according to Market Commentator Matt Brown and Core London's CEO, Nick Batsford.
A very dovish rate hike from BoE. Matt also points out that the Bank of England has now said to the market that it can dictate where Pound and interest rates goes.
If the markets get involved, this will not be good for the Pound and then consequently we could see a run on the Pound. You can see more on this by watching Marc Ostwald's segment:
Matt then goes on to note that a lot of smart money will now be short on the Pound. As a result, it will lead to push in inflation, which will lead back to an interest rate hike again. Matt would be a seller on the pound, however he would not be a seller for Apple!
Apple
Apple have reached a 900 billion market cap. This makes it the biggest company in the world.
The new iPhone X goes on sale today, at the very hefty retail price of £999. However, the iPhone always seem to be selling well and there are great numbers from Apple.
Generally, when we look at the US, US Markets are performing well. Tax reform cuts are coming through, but this is more of a drip feed than a big statement.
Fed
Also have the new Fed chair coming in - Jerome Powell has had the nomination from Donald Trump.
FTSE one to watch
There is a rumour in the market of a Next and M&S Merger. This is off the back of bad numbers from next this week.
Could the companies do something if they merge together?
Matt notes that M&S have always had a problem reaching out to younger audience, so a merger with Next could help them break into that market. However of course, there will be a lo of cost involved.
AIM
Today's AIM stock of watch is Footasylm. They were listed on the AIM market yesterday. Coming in at 167 and today trading up at around 191.
Pound
EURGBP & GBPUSD.
There has been a incredible move downward. Matt sees this as the market punishing Mark Carney. Matt and Nick are looking ahead to the Brexit negotiations next week to see what what effect they will have on the Pound.
Core Number
60% is today's Core Number.
This is the rise in the cost of living in London over the last 20 years. This was written by Russel Lynch in this week's Evening Standard.
You can read the full article here: https://www.standard.co.uk/business/inflation-in-london-up-60-in-20-years-a3673826.html
A lot of the increase has come in house prices, transportation and then just the general cost of goods.
Matt also talks about effect this will have had on investing.
Economic calendar
The big one today is Non-farm payrolls.
Looking at a number in excess of 300,000, however last month we were -33,000. This was due to the hurricane effect. If you net that out, on average it is going to be around 160000/170000 jobs created in the last month.
Matt advises viewers to not just look at this month as last month could be important.
As ever, Matt highlights the key figure to look out for is the hourly wage earning rate.
Listen to the full segment to hear more of Matt's views.
Further Information
You can see more episodes of the Daily Market Show by using the following link: http://www.corelondon.tv/c/finance/london-show/
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