Investors are still trading cautiously ahead of today inflation data, due at 13:30 GMT. They are eager to get more cues about the pace of interest rate cuts this year. The euphoria seen in late 2023, boosted by expectations of a rate cut as early as March has slightly faded, but signs that inflation continued to cool in December could revive hopes.

After yesterday’s close, the US Securities and Exchange Commission approved Exchange Traded Funds (ETFs) in Bitcoin, giving the green light to BlackRock and peers.

However, SEC Chair Gary Gensler said in a statement that the SEC “did not approve or endorse Bitcoin” and that “investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”

Those who imagined bitcoin would soar as soon as the announcement was made were disappointed, as the famous crypto is now trading down on the previous day. It has to be said that, with +180% on the counter in one year, the market had largely anticipated this announcement.

This morning, the FTSE remains in the green, just above zero. WPP fell 2.7% on reports that it is planning to sell its 40% stake in Kantar.

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