5 Things to Know In the Market Today

1. Global stocks mixed, S&P in sight of record closing high
U.S. futures pointed to a slightly lower open on Wednesday after the Dow racked up its seventh consecutive advance a day earlier and gains left the S&P 500 within a half percent of a record closing high. At 6:00AM ET (11:00GMT), the blue-chip Dow futures lost 0.12%, S&P 500 futures traded down 0.11% and the Nasdaq 100 futures slipped 0.09%.

2. Fed rate hike odds inch towards 100% as markets await Yellen
Market participants once again pushed the odds for the Federal Reserve (Fed) to hike rates in December past 90% on Wednesday, according to Investing.com’s Fed Rate Monitor Tool.
Though several Fed officials have said that it was too early to interpret how future policies implemented by the newly elected President Donald Trump would affect the economy, with speculation pointing to an acceleration in inflation, many policymakers have recently hinted that the first policy tightening this year could occur in December.

3. Dollar attacks 14-year high
The dollar remained at an 11-month high against the other majors currencies on Wednesday, but inched towards what could be a record level not seen in 14 years, as optimism over the U.S. economy following Donald Trump’s election as U.S. president and hopes for a U.S. rate hike lent broad support to the greenback.

4. U.S. bond yields continue to rise
U.S. bond yields continued to move higher on Wednesday amid speculation the prospects for global economic growth are sufficiently strong to allow the Fed to tighten monetary policy and markets continued to bet that Trump would usher in inflationary policies.

5. Profit-taking in oil after 6% surge, crude inventories ahead
Investors took profit in oil on Wednesday after surging 5.75% the day before, its biggest daily percentage gain in seven months.
An informal meeting of OPEC members is likely to be convened in Doha on Friday to build consensus over decisions taken by the group in September in Algiers, an Algerian energy source told Reuters, though skepticism remained as other reports pointed to the fact that neither Iran nor Iraq would attend.

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance