8:00 AM Flash: S&P Hits Fresh Highs as Labour Faces Brutal Recession Warning

8:00 AM Flash: Good morning everyone. Here is your live market snapshot at eight o'clock. The S&P 500 is trading at seven thousand four hundred thirty two point nine seven, up twenty nine point nine two points or zero point four zero percent. The VIX is at seventeen point six four, up zero point two or one point one five percent. Gold is currently at four thousand five hundred fifteen dollars. WTI crude is trading at one hundred point five five dollars a barrel, and Bitcoin sits at seventy seven thousand two hundred thirty eight dollars. Breaking this morning, the new Labour government is getting a brutal reality check on the economy. A sharp slump in activity has ignited fresh fears of an imminent recession, sending a chill through markets already nervous about higher taxes and slower growth. Investment bosses are also warning that plans to tax cash held inside stocks and shares Isas could backfire badly. In politics, Wes Streeting has outlined a wealth tax plan that would align capital gains tax with income tax rates. On a more personal note, after two years of sobriety, journalist Antonia Hoyle has started drinking again, and the surprising reason why has gone viral this morning. This is Miss Vicky from the Options Desk at VixShield, where it's not news till we talk about it. Stay with us as Russell Clark joins with more analysis.