Markets Overview: (Source: Bloomberg, FT, Reuters, DJ Newswires)

UK 100 called to open flat this morning as a lack of corporate earnings leave us waiting for macro data later today for further direction.

Overnight in the US, a fairly quiet session left the Dow Jones closing up 6 points at 14,937 (again 15,000 proving hard to break!) whilst the S&P was up 2 points at 1,655. U.S. President Barack Obama faced growing pressure from Russia’s Vladimir Putin and other world leaders on Thursday to decide against launching military strikes in Syria, which many of them fear would hurt the global economy and push up oil prices.

In Asia, a mixed trading session coupled with thin volumes left the Hang Seng up 56 points at 22,654 whilst the Nikkei was down 150 points at 13,914.

In focus today are the data releases from the UK and the US. At 09:30 figures for monthly Industrial Production and Manufacturing Production will be published. On Monday Rob Dobson, senior economist at Markit, said “the UK’s factories are booming again” after Manufacturing PMI data jumped to its highest level since February 2011, whilst notching a fifth consecutive month of expansion. At 13:30 GMT the state of employment in the world’s largest economy will be scrutinised by the traders. Non-farm Employment Change and the Unemployment Rate will provide a snapshot of economic health in the US. Better or worse-than-expected numbers could again prompt the debate for/against stimulus tapering which in turn will likely provide a volatile afternoon’s trading.

The UK 100 has managed to creep above the psychological 6,500 level but the question is whether it can stay above this level. Macro data today will surely give us some direction. One-week highs of 6530 remain the first real resistance to the upside whilst 6480, 6440 and then 6400 become support to the downside.

In commodities, US Light Crude and Brent Crude remain in their upward trend, trading at $107.5 and $115.2 respectively. Gold is trading flat at the moment as traders remain divided on the improving US economy VS a threat of military action on Syria

In FX space the GBP vs EUR is holding up above the 1.18 level, currently edging towards 1.19 (back to April highs). Vs the USD however, the GBP has fallen off one week highs, currently trading at 1.55.

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Overnight Macro Data: (Source: Reuters/DJ Newswires)

• JAPAN      Coincident Index                 WORSE

See Live Macro calendar for all details

UK Company Headlines: (Source: Reuters/DJ Newswires)

• Vodafone ready to target Italy for ‘Project Spring’ spend-report
• African Mining & Exp proposes change in name
• Lancashire shareholders approve Cathedral Capital acquisition
• Low and Bonar buys Slovakian producer Texiplast
• Amec wins TAQA contract
• SThree Q3 group gross profit dips
• Ultrasis John Smith named permanent CEO
• Character Group says H2 was satisfactory
• Broker-dealer ICAP in talks to settle Libor probe
• Tullow Oil says Norwegian well finds oil