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US Futures Are Lower After Market Holiday

US Futures are lower after market holiday.  US stocks look to open lower by about 0.5% as Treasury yields continue to rise.  European shares are mostly higher, however, bank shares are underperforming on weaker earnings.  Asian shares closed mostly lower with financials and energy related names lagging.

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13 Hits

US Futures Are Lower After Strong 5-Day Gains

US Futures are lower after strong 5-day gains.  Futures have drifted lower this morning and now are at the weakest levels of the morning.  Housing starts and permits from January both came in stronger than expectations.  Import and export both rose more than expected, with import prices up 1% m/m and export prices rising 0.8% m/m.  At 10am the market will get a preliminary look at consumer sentiment in February.  European shares are higher are strong earnings.  Many Asian markets were closed for Lunar New Year.  Of the markets that were open, shares closed mixed with the Japanese Nikkei leading higher.  Bank of Japan Governor Haruhiko Kuroda was re-appointed to a new 5-year term, indicating current stimulus policy will continue.

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22 Hits

US Futures Hold-On To Gains After Data

US Futures hold-on to gains after data.  Jobless claims rose by 7k to 230k last week.  Producer prices in January came in hotter-than-expected at 0.4% m/m and 2.7% y/y, adding to the rising inflation data.  The Empire State manufacturing survey disappointed in February at 13.1 vs expected 17.5.  The Philadelphia Fed business outlook survey was stronger than expected in February at 25.8.  European shares are higher, being led higher by materials stocks.  Asian shares closed higher, also led by materials and energy related shares.

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20 Hits

US Futures Fall After Inflation Data

US Futures fall after inflation data.  US futures were higher on the morning, however, are now significantly lower after inflation in January rose more than expected and retail sales disappointed.  January CPI rose 0.5%, while analysts were looking for a 0.3% increase.  Retail sales were weaker than expected in January, declining 0.3%, and December retail sales was revised lower to unchanged from the previous report of up 0.4%.  European shares also dropped on the US data, now negative across the board.  The euro area economy GDP rose 0.6% from the previous quarter.  Asian shares closed mixed with the Japanese Nikkei lagging again.  Japan reported that GDP rose 0.5% in Q4, below expectations 0.9%.

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25 Hits

US Futures Are Off The Lows Of The Morning, But Remain Lower

US Futures are off the lows of the morning, but remain lower.   President Trump released his FY 2019 budget proposal on Monday.  Some of the highlights of the budget proposal include a repeal Obamacare, reduce Medicaid benefits added under the Affordable Care Act and significant changes to student loans.  There is doubt that budget would get through Congress without significant changes.  European shares are mostly lower with telecom stocks leading lower.  Consumer inflation in the U.K. was unchanged in January at 3%.  Asian shares closed mostly higher with the exception of the Japanese Nikkei, which reversed early gains to close lower.

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26 Hits

US Futures Gain Traction After Friday's Turnaround

US Futures gain traction after Friday’s turnaround.  US markets are looking to build on Friday’s gains after a volatile session.  President Trump is set to provide details of a infrastructure plan today that could amount to $200B over 10 years.  At the core of the plan, the administration would provide $100B of matched funds for a percentage of the project intitiated by municipalities and states.  European shares are higher as material and energy stocks soared.  Asian shares closed mixed with financials lagging.

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29 Hits

US Futures Are Slightly Higher After Late-Day Sell-Off on Wednesday

US Futures are slightly higher after late-day sell-off on Wednesday.  Markets gave up gains late in the session on Wednesday, with most indices closing lower.  Futures are holding on to gains this morning after jobless claims were better than expected.  The Labor Department reported that weekly jobless claims fell to 221K, below expectations of 232K.  European shares are lower after the BOE held rates unchanged as expected.  Asian shares closed mostly higher as import data reflect strong consumer demand in China.

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30 Hits

US Futures Drift Lower After Strong Rebound on Tuesday

US futures drift lower after strong rebound on Tuesday.  US market rose 2% on average on Tuesday as stocks rebounded from the recent sell-off.  European markets are higher with energy shares leading the charge higher.  Asian shares are mixed as several markets have been unable to hold on to gains.  Technology shares outperformed most sectors.

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40 Hits

US Futures are Lower as Volatility Rises

US Futures are lower as volatility rises.  The market is looking to extend it’s losing streak as global markets are lower.  In economic data, the December trade deficit widened more than expected to $53.1B.  European shares are trading 2% lower in a broad based selloff.  Asian shares closed significantly lower, following the lead of US markets.  Energy related shares were the worst performing stocks on the session.

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41 Hits

US Futures are Lower After Friday's Drop

US Futures are lower after Friday’s drop.  US futures look to open lower after the S&P 500 dropped over 2% on Friday.  On the data front, markets will get a look at how the services sector is performing at 10am when the ISM Non-Manufacturing Index is released for January.  European shares are lower as financial stocks lead to the downside.  Asian shares closed mostly lower, with Japan’s Nikkei losing more than 2.5%.

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41 Hits

US Futures Move Lower After Data

US Futures move lower after data.  As expected, in Janet Yellen’s last meeting as Fed chair, the FOMC left rates unchanged.  The Fed expects inflation to heat-up as the year progresses and reach their 2% target.  On the data front, initial jobless claims fell to 230k, below estimates of 235k.  Non-farm productivity in Q4 fell 0.1%, well below the expectations of a rise of 0.7% and Q3 was revised lower.  Unit labor costs rose 2.0% in Q4, well above estimates of 0.9%.  At 9:45am the market will get a look at PMI manufacturing index which is expected to be unchanged from the flash PMI.  At 10am, ISM manufacturing index and construction spending will be released.  European shares are lower despite strong manufacturing PMI in the eurozone.  Asian shares closed mixed, however, Chinese shares fell despite stronger-than-expected Caixin manufacturing PMI.

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46 Hits

US Futures are Higher on Earning Data

US Futures are higher on earnings data.  The Dow futures soared after Boeing reported a better-than expected quarter.  January ADP was stronger than expected, showing a gain of 234k jobs.  The employment cost index was in-line with forecasts showing a quarter-over-quarter gain of 0.6%.  At 9:45am, the market will get a look at manufacturing in Chicago.  Later this morning, pending home sales from December and the EIA petroleum report will be released.  Lastly, at 2pm, we will get the latest FOMC policy decision, with expectations of no change in Janet Yellen’s final meeting as Fed chair.  European shares are mostly higher after eurozone inflation remained tame in January.  Asian shares closed mixed after China’s PMI came in slightly below expectations at 51.3 in January.  

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50 Hits

US Futures are Lower Ahead of Janet Yellen's Final FOMC Meeting as Fed Chair

US futures are lower ahead of Janet Yellen’s final FOMC meeting as Fed Chair.  Today starts a 2-day FOMC meeting that will conclude with a Fed policy decision at 2pm tomorrow.  While it is widely expected that rates will remain unchanged this meeting, the market will be looking for clues on the path of future rate hikes as talks of a 4th hike in 2018 begin to surface.  At 9am, the market will get a look at home prices in November and at 10am, consumer confidence in January.  European shares are lower as material shares lead lower.  Asian shares closed lower with tech stocks under pressure as some Apple suppliers reacted to news of potential production cuts.

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51 Hits

US Futures are Lower as Treasury Yields Rise

US Futures are lower as Treasury yields rise.  The 10yr Treasury rose to 2.7% this morning, highest level since 2014.  On the data front, personal income and spending both rose 0.4% in December.  The saving rate in December recorded the lowest reading since 2005 at 2.4%.   Inflation was in-line with forecasts in December, with the core PCE rising 0.2% for the month and 1.5% yoy.  European shares are mixed with technology shares leading higher.  Asian shares closed mixed with Chinese markets leading lower.

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63 Hits

US Futures Remain Higher After Data

US Futures remain higher after data.  The first look at Q4 GDP was below estimates at 2.6%, as imports surged and larger inventory builds.  At the current readings, the annual growth in GDP would be 2.3% in 2017, higher than the 1.5% posted in 2016.  December durable goods surprised to the upside, registering a 2.9% increase, well above expectations of 0.6% increase.  On the trade front, the December trade deficit increased to $71.6B, larger than expected.  European shares are higher on earnings, with most sectors moving higher.  The U.K. reported that the economy grew at 0.5% in Q4, better than the expected rise of 0.4%.  Asian shares closed mixed, with China leading to the upside.  Data of out Japan showed that consumer prices were stable in December.

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71 Hits

US Futures Gain On Strong Earnings Data

US Futures gain on strong earnings data.  Better-than-expected earnings from Caterpillar and 3M have helped to lift stocks this morning.  The US dollar weakening continues and has reached overnight lows despite the ECB decision to leave rates unchanged with no mentions of a change to the asset buying program.  The weakening dollar has added strength to the commodity rally, with WTI now over $66/ barrel.  On the data front, the Labor Department reported weekly jobless claims rose slightly to 233K, below expectations of 240k.  At 10am, the market will get a read on December new home sales.  European shares are higher after the ECB left rates unchanged and confirmed that the current level of asset purchases of €30B/month through the end of September.  Asian shares closed mostly lower as exporters shares fell due to the continued weakening of the US dollar.

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66 Hits

US Futures are Higher Ahead of Data

US Futures are higher ahead of data.  Later this morning the market will get an early estimate of manufacturing strength when the January flash PMI is released at 9:45am.  Additional data for release include December existing home sales at 10am and a look at petroleum inventories at 10:30am.  European shares are mostly lower as earnings reports disappointed.  Asian shares closed mostly higher, however, the Nikkei fell nearly 1% as exports disappointed.

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71 Hits

US Futures are Mixed After President Trump Announced New Tariffs

US Futures are mixed after President Trump announced new tariffs.  President Trump announced new tariffs on imported solar panels and washing machines, causing tension with Asian countries.  While the tariffs were widely expected, it is believed that they were less extreme than initially anticipated.  European shares are mostly higher with most sectors trading higher, however, materials stocks were lagging.  Asian shares closed higher led by auto stocks.  The BOJ held monetary policy steady as expected.

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73 Hits

US Futures are Flat as Markets Weigh a Government Shutdown

US Futures are flat as markets weigh a government shutdown.  Over the weekend, the Senate failed to pass a bill that would have kept the government funded for the next month.  The Senate is set to vote again today at noon in hopes that a compromise can be achieved this morning.  US markets have yawned thus far, with futures flat on the day.  European shares are mostly higher as Germany makes progress on the creating a coalition government.  Asian shares closed mixed ahead of the BOJ policy meeting on Monday and Tuesday.  No change in policy is expected.

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76 Hits

US Futures are Higher Despite Fears of Government Shutdown

US Futures are higher despite fears of government shutdown.  With the House of Representatives passing a short-term patch to a funding bill, the focus now moves to the Senate.  There is question whether the bill can pass in the Senate later today as Republicans will need help from at least 10 Democrats to get the bill passed.  At 10am, the market will get a preliminary look at consumer sentiment in January, with consensus estimates looking for a rise to 97.  European shares are higher as euro zone current account showed a larger than expected surplus, helped by increased exports.  Asian shares are mostly higher with financial stocks leading higher.

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91 Hits

US Futures are Flat After Mixed Economic Data

US Futures are flat after mixed economic data.  Housing starts unexpectedly fell 8.2% in December, however, permits were in-line with forecasts.  The job market remains strong with jobless claims falling to a 45 year low last week to 220K, beating the consensus estimate.  The Philadelphia Fed survey was weaker than expected at 22.2, lower than the 25 consensus.  European shares are mixed with technology stocks outperforming.  Asian shares closed mixed with Japan’s Nikkei lagging other Asian markets.  China reported that their economy grew 6.9% in 2017, above the target of 6.5%.

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92 Hits

United Asset Strategies, Inc. Shares with Wall Street Journal Readers, Their Secrets to Peak Staff Performance

https://www.wsj.com/articles/rethinking-the-annual-performance-review-1516121667?shareToken=st246ce2eb5e2144a7a772cf40c001ba34&reflink=article_email_share

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90 Hits

US Futures are Higher Ahead of Data

US Futures are higher ahead of data.  At 9:15am, the market will get a read on December industrial production, with estimates of a 0.4% increase.  At 10am, the NAHB will release the housing market index report for January, with expectations of a slight decline to 73.  At 2pm, the Fed’s beige book is released and will provide further insight into the economic conditions.  European shares are mostly lower as earnings weighed on shares.  December eurozone inflation slowed to 1.4% yoy in December.  Asian shares closed mixed.  Core machinery orders in Japan rose 5.7% in November, for the second consecutive quarter of improvement.

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91 Hits

US Futures are Higher to Start a Holiday-Shortened Week

US futures are higher to start a holiday-shortened week.  US markets look to open strong as earnings season kicks into gear, despite fears of upcoming government shutdown.  Lawmakers need to come to agreement on a funding bill by Friday to avoid a shutdown.  According to some reports, there is potential for another short-term extension to fund the government through February 16.  On the data front, the Empire State Manufacturing Survey for January came in below expectations at 17.7, while analysts were looking for 19.  There is no other economic data to be reported today.  European shares are higher on earnings and easing inflation data in the U.K..  Asian shares closed mostly higher as technology shares gained.

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92 Hits

US Futures Pared Gains and Treasury Yields Rose After Data

US Futures pared gains and Treasury yields rose after data.  The consumer price index was up 0.1% in December, 2.1% yoy.  Core CPI rose 1.8%, slightly higher than the expected 1.7% increase.  Retail sales were reported slightly lower than expected, rising 0.4% in December.  The retail sales control group was reported up 0.3%, in-line with expectations, however, November was revised higher by 0.6% to 1.4%.  At 10am, the market will get a look at business inventories from November.  European shares are mostly higher as retail stocks outperform.  Asian shares closed mostly higher despite mixed trade data out of China.  China reported that imports rose less than expected, however, exports were stronger than expected.

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110 Hits

US Futures Remain Higher, However, Have Pared Gains After The ECB December Minutes

US Futures remain higher, however, have pared gains after the ECB December minutes.  The minutes from the ECB December meeting were viewed as hawkish as they hinted that forward guidance may have to be revisited in early 2018 if the economy continued to expand and inflation continues to move toward their target.  The minutes release caused the USD to weaken relative to the Euro and bond yields rose.  In US data, jobless claims for last week were up slightly to 261K.  Additionally, December PPI was below expectations, falling 0.1% on headline and falling 0.1% ex-food and energy.  European shares are mostly lower after hawkish ECB minutes, despite reports that euro area industrial production was up 1% in November.  Asian shares closed mixed as corporate earnings weighed on shares in Japan.

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116 Hits

US Futures are Lower as Treasury Yields Rise

US Futures are lower as Treasury yields rise.  Global yields have been rising, but recent comments from China on the possible reduction or halting of purchases of US Treasuries is cause for concern for bond investors.  On the data front, import/export prices were fairly flat in December with import prices rising 0.1% and export prices falling 0.1%.  European shares are mostly lower with weakness in telecoms, while banks were higher.  Asian shares closed mixed, however, shares in Hong Kong closed higher for the 12th day in a row.

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115 Hits

US Futures are Higher as the Strong January Momentum Continues

US Futures are higher as the strong January momentum continues.  On the data front, December small business optimism pulled-back from multi-year highs in December with the NFIB Small Business Optimism Index declining to 104.9 from 107.5 in November.  At 10am the market will get a look at job openings and labor turnover from November.  European shares are higher on the back of stronger November industrial production in Germany.  Asian shares closed mostly higher with strength in technology shares as earnings season begins.

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106 Hits

US Futures are Lower After a Strong First Week of Trading

US Futures are lower after a strong first week of trading.  Markets look to take a breather after strong gains in the first week of 2018 which saw the S&P 500 rise by 2.6% over four trading days.  The is no economic data scheduled to be released today.  European shares are mostly higher as consumer confidence in the euro zone reached a 17-year high.  Automobile and material stocks led the gains.  Asian shares closed higher across the board led by new highs in Japan’s Nikkei 225.

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115 Hits

US Futures are Higher Ahead of December Fed Minutes

US Futures are higher ahead of December Fed minutes.  At 2pm, the Fed will release the minutes from the December meeting in which the Fed raised rates by 0.25%.  The market will be looking for any changes to the economic and inflation outlook to gauge future moves.  At 10am the market will get data on construction spending from November and the December ISM manufacturing index.  European shares are mostly higher with retail and technology shares leading higher.  New financial reform from the EU will go into effect today, Europe’s Market in Financial Instruments Directive (MiFID II).  MiFID II will increase transparency across financial markets and strengthen financial protection.  Asian shares closed higher with the exception of Japan which is still closed for holiday.  Technology and materials stocks led higher.

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135 Hits

US Futures are Higher to Start the New Year

US Futures are higher to start the new year.  US stocks look to extend the 2017 rally as futures rise despite geopolitical tensions.  Over the weekend, North Korean leader Kim Jong Un declared his country a nuclear power and in Iran, tensions grew as protests become violent.  Later this morning the market will get a read on the December Purchasing Managers’ Manufacturing index (PMI), with analysts looking for a move higher to 55.  European shares are lower as automobile stocks fell on weaker car registration data.  Asian shares closed mixed with China higher on better-than-expected manufacturing activity in December.

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122 Hits

US Futures Are Higher On The Last Trading Day Of The Year

US Futures are higher on the last trading day of the year.  Trading volume will be light and there is no economic data scheduled for release.  Crude oil has rallied back to $60/barrel for the first time since June of 2015.  European shares are mixed on light trading with energy and commodity names leading higher.  Asian shares closed mixed as Chinese shares advanced, while Japanese shares lagged.

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132 Hits

US Futures are Higher on Light Trading Volume

US futures are higher on light trading volume.  In economic data, initial jobless claims were unchanged last week at 245k.  The November trade deficit was larger than expected at 69.7B, with imports rising faster than exports.  Later this morning, ISM will release the Chicago PMI for December which is expected to fall to 62.5.  European shares are slightly lower, with no conviction in either direction.  Asian shares closed mostly higher, while Japanese stocks lagged as energy and commodity names took a breather from recent gains.

 

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154 Hits

US Futures are Mixed Ahead of Data

US Futures are mixed ahead of data.  At 10am the market will get a read on pending home sales in November as well as consumer confidence for December.  European shares are mixed on light trading with energy shares leading higher.  Asian shares closed mostly higher as energy shares gains after oil hit a new 2-year high.

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145 Hits

US Futures are Mixed After the House Vote on a Short-Term Spending Bill

US Futures are mixed after the House vote on a short-term spending bill.  The House of Representatives voted on Thursday to fund the government through mid-January.  In economic data, personal income in November rose 0.3%, slightly below expectations, however, spending rose 0.6%, above estimates.  Preliminary November durable goods rose 1.3%, below expectations.  At 10am, new home sales data will be released and the market will get a look at December consumer sentiment.  European shares are lower on weakness in banks.  Asian shares closed mostly higher on strength in commodities.

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140 Hits

US Futures are Higher After Economic Data

US Futures are higher after economic data.  Jobless claims for the week ending 12/16 rose 20K to 245K, above expectations of 233K.  The third look at third quarter GDP came in at 3.2%, slightly below estimates of 3.3%.  The Philadelphia Fed index beat expectations in December at 26.2.  European shares have reversed earlier losses and are mostly higher with most sectors advancing.  Asian shares closed mixed.  The Bank of Japan left monetary policy unchanged as they see the economy expanding moderately.

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153 Hits

US Futures are High After The Senate Passed The Tax Bill

US Futures are higher after the Senate passed the tax bill.  The bill will now move back to the House to pass for a second time after slight adjustments had to be made.  Later this morning the market will get a look at November existing home sales as well as crude inventories from last week.  European shares are mostly lower as household goods lagged due to Steinhoff International’s continued plunge on accounting irregularities.  Asian stocks closed mixed as the Japanese Nikkei and the Australian ASX 200 managed to close positive.

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155 Hits

US Futures are Mostly Higher as Congress Sets to Vote on the Tax Bill

US Futures are mostly higher as Congress sets to vote on the tax bill.  The House could vote as early as today, with a Senate vote to follow in hopes to get the final plan to the President by Thursday.  In economic data, housing starts rose by a 3.3% annualized rate in November, while permits fell 1.4%.  Single-family housing units is now at a 10-year high.  European shares are mostly lower, however, travel and leisure stocks edged higher.  Asian shares closed mostly higher with financial stocks strong, while Japan’s Nikkei 225 closed lower.

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148 Hits

US Futures are Higher Over Optimism of Proposed U.S. Tax Cuts

 US Futures are higher over optimism of proposed U.S. tax cuts.  Republicans released their final tax cut proposal late on Friday and believe that the bill will have enough votes to pass this week.  At 10am, the market will get a reading on homebuilder confidence in December with the expectation of no change from November.  European stocks are being led higher by technology stocks.  Asian stocks closed mostly higher, led by Japanese stocks, as Japan’s November exports rose 16.2%.

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150 Hits

US Futures are Higher Despite New Questions Over the Tax Plan

US futures are higher despite new questions over the tax plan.  Questions of the support of Republican senators for the tax bill have resurfaced as in the last 24 hours, Senators Rubio, Corker, Lee, Flake and Collins have all stated that they are undecided on their vote.  The December Empire Manufacturing Survey was reported in-line with estimates at 18.  November Industrial Production rose 0.2%, slightly below estimates for a 0.3% increase.  European shares are mixed as retail stocks lag.  Asian stocks closed mostly lower with technology shares lagging.

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173 Hits

US Futures are Higher After the Fed Raised Rates by 25 BPS

US Futures are higher after the Fed raised rates by 25 bps.  Along with the rate increase, the Fed upgraded the economic outlook for next year.  In economic data, retail sales rose 0.8% in November, ahead of analyst estimates.  Initial jobless claims were 225K last week, below expectations of 239K.  Later this morning the market will get an early reading on December PMI and business inventories for October.  European shares are lower after the ECB and BOE held rates steady.  ECB’s Governing Council stated that they expect to keep rates at these levels for “an extended period of time” and said they see inflation at 1.4% in 2018.  Asian shares closed lower after the Hong Kong Monetary Authority and the People’s Bank of China raised rates.

 

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165 Hits

US Futures are Higher Ahead of the Fed Decision Due out at 2PM

US Futures are higher ahead of the Fed decision due out at 2pm.  Markets have already priced in a 25bps rise in the federal funds rate, however, attention will be payed to the dot plot for a potential change in the expectation of future rates.  In political news, democratic Senate candidate Doug Jones beat republican candidate Roy Moore in the Alabama special election.  The surprising victory will narrow the GOP Senate majority to 51-49 next year.  In economic news, November inflation data was reported inline with expectations as CPI rose 0.4% m/m and 2.2% y/y.  European shares are mixed with retail stocks outperforming.  Asian shares closed mostly higher with strength in energy as technology shares lagged.

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258 Hits

US Futures are Slightly Higher as the Fed Begins a 2-Day Policy Meeting

US Futures are slightly higher as the Fed begins a 2-day policy meeting.  At the conclusion of the 2-day meeting, the Fed will announce any monetary policy changes at 2pm on Wednesday.  In economic data, the Bureau of Labor Statistics said that producer prices rose more than expected in November, rising by 0.4% m/m and 3.1% y/y.  PPI ex-food and energy was also slightly higher than expectations at 0.3% m/m.  European shares are higher as inflation rises.  Headline inflation rose to 3.1% y/y in the UK ahead of the BOE and ECB monetary policy meetings on Thursday.  Asian shares closed mostly lower, however, energy shares traded higher as Brent crude prices rose to the highest level since 2015.

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183 Hits

US Futures Have Pared Gains After Report of an Explosion in NYC

US futures have pared gains after report of an explosion in NYC.  A device explosion near a Times Square subway station left the purported suspect injured with no other reported injuries.  This week will be a big week for monetary policy with several central banks expected to make announcements.  On Wednesday, the Federal Reserve is expected to raise the federal funds rate for the third time this year by 25 basis points to a range of 1.25 to 1.5%.  Thursday will see key monetary policy updates from the European Central Bank, the Bank of England and the Swiss National Bank.  In economic data, October’s JOLTS report will be released at 10am.  The market is expecting job openings to increase to 6.1M openings in October.  Much anticipated Bitcoin futures began trading on Sunday on the CBOE, already triggering 2 trading halts due to 20+% surge in the first 24 hours of trading.  European shares are mixed with banks and materials stock leading to the upside.  Asian shares closed higher with casino stocks and banks leading the way higher.

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171 Hits

The US Added 228,000 jobs last month compared to estimates of 200,000

US futures are higher this morning on the back of a better than expected government jobs report.  According to the Bureau of Labor, the US added 228,000 jobs last month compared to estimates of 200,000 with the unemployment rate holding steady at 4.1%.  On the political front, Congress was able to pass a short term funding bill last night to avoid a government shutdown.  Markets in Asia closed higher led by the Nikkei on the back of a weaker yen and better than expected trade data out of China.  European markets are trading higher led by the banks after regulators agreed on a deal which is part of the Basel III capital levels.  Markets in Europe are also getting a boost from Brexit talks after a few key issues were agreed upon.  Later today, we will get data for consumer sentiment and wholesale trade.  

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174 Hits

US Futures are Mixed After Early Morning Gains Fade

US futures are mixed after early morning gains fade.  In a deviation from recent days, the DJIA and S&P500 are lower, while the Nasdaq is higher.  Weekly jobless claims fell by 2k to 236k, lower than expected, for the week ending 12/2.  European shares are mostly lower as basic materials lag.  Asian shares closed mixed as the Japanese Nikkei bounced back from yesterday’s rout.

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171 Hits

US Futures are Lower as Global Stocks Decline

US futures are lower as global stocks decline.  In the US, ADP reported private payrolls in November rose by 190K, slightly above estimates.  Third quarter non-farm productivity rose slightly less than expected to 3% q/q, while unit labor costs declined by 0.2%.  The decline in unit labor costs was a surprise as the market was expecting a rise of 0.3% for the quarter.  European shares are lower, led by auto, bank and technology shares.  Asian shares closed lower with Japan’s NIKKEI falling nearly 2%.

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168 Hits

US Futures are Higher After Yesterday's Mixed Session

US futures are higher after yesterday’s mixed session.  Yesterday, the US Supreme Court ruled that Trump’s travel ban from 6 mostly-Muslim countries can take effect immediately.  In economic data, the October trade deficit increased more than expected to $48.7B.  At 10:00am, the Institute for Supply Management will report their November non-manufacturing index update.  European shares are mixed as Brexit discussions stall due to Northern Ireland’s Democratic Unionist Party rejecting a special status for Northern Ireland upon the UK split.  Asian shares closed mostly lower as technology stocks lagged.

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173 Hits

US Futures are Sharply Higher This Morning After the Senate Passed Their Version of the Tax Bill Early Saturday Morning

US futures are sharply higher this morning after the Senate passed their version of the tax bill early Saturday morning.  The vote came out 51-49 in favor of the tax bill which will now need to be a joint bill between the Senate and the House.  The progress in the tax reform has helped reverse the losses Friday which came after news that  Michael Flynn, a member of Trump’s election team, pleaded guilty to lying to federal investigators.  Markets in Europe are trading higher on the back of the Senate’s tax bill vote while Asian markets closed mostly lower.  

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160 Hits

US Futures are Mixed as Senate Republicans Delayed a Vote on the Tax Bill

US futures are mixed as Senate Republicans delayed a vote on the tax bill.  Concerns about the fiscal “trigger” caused lawmakers to make changes to the bill and required more time to complete, forcing a delay in the vote.  In Bitcoin news, the CFTC has approved futures trading on Bitcoin and will begin trading on GLOBEX on December 18th of this year and later be available by the CBOE.  While Bitcoin is trading higher on this news, speculation of increased regulation is expected due to broader acceptance by the mainstream investment community.  On the economic front, November PMI, ISM and October construction spending are due out later this morning.  European shares are mostly lower as technology shares lag.  Asian shares closed mixed with the Japanese NIKKEI leading to the upside.

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162 Hits

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