Home Business NewsBusiness FTSE 100 nears 8,000 ahead of US inflation numbers

FTSE 100 nears 8,000 ahead of US inflation numbers

by LLB Reporter
14th Feb 23 10:00 am

It might be stretching things to say love is in the air when it comes to the stock market, but the FTSE 100 is mounting a Valentine’s Day push toward the 8,000 level.

All eyes will be fixed on Washington later as the US Bureau of Labor Statistics posts inflation numbers for January.

“The expectation is for another modest easing of inflationary pressures and anything more than this could provide a real boost to sentiment – though conversely a renewed move higher in the inflation rate could prompt heavy selling,” says AJ Bell investment director Russ Mould.

“In the UK record wage growth raised concerns the UK’s own inflation problems might prove stickier than feared ahead of the UK posting its own CPI numbers on Wednesday.

“However, the Bank of England will likely be hoping the lagged impact of a series of rate increases is yet to fully come through amid growing expectations a rate hike in March will be the last.”

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