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.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.