Market Outlook 

Market Outlook: Big Tech weighs, Natwest rounds off solid quarter for UK banks

Market Outlook: Big Tech weighs, Natwest rounds off solid quarter for UK banks

European shares once again fell and then tried to come off the flatline in early trade on Friday after another down day in the previous session, but the mood is pessimistic. The FTSE 100 is trading above 5,500 but with little support under 5,400 we could yet see a retest of the March lows at 5,000-4,800. Wall Street rallied as the bulls put in a solid defence with the S&P 500 recovering 3,300. Big Tech earnings beat expectations yet shares fell after hours and this weighed on the futures, which are pointing to a weak open for the US market. Bear in mind also month-end flows which are helping muddy the waters. The US dollar surged with US yields moving higher yesterday. DXY advanced to near-term resistance at the top of the October range at 94. WTI (Dec) sank amid the broad risk-off tone yesterday and demand fears were to the fore.

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