Menu Close

World Stock Markets Mostly Firmer; ECB, FOMC Meetings On Deck

This is a syndicated repost published with the permission of Money Morning - We Make Investing Profitable. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

(Kitco News) – Global stock markets were mostly firmer overnight, following the lead from New York’s higher close Tuesday. The Dow Jones Industrial Average this week hit has hit a record high. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins.

Gold prices are higher in early U.S. trading on a short-covering and bargain-hunting bounce following recent selling pressure that drove prices to a 10-month low this week.

In overnight news, U.K. industrial output in October was reported down 0.9%, month-on-month and down 0.4%, year-on-year. That was a big miss to the downside from market expectations.

20161207_eurusd

Traders and investors are awaiting Thursday regular meeting of the European Central Bank. Most expect the ECB to continue its bond-buying program into early next year, but after that there are mixed ideas on what the ECB will do. Market watchers are hoping at Thursday’s meeting and press conference from bank president Mario Draghi that some new clues about ECB monetary policy plans for 2017 will be revealed.

The marketplace is also looking ahead to next week’s U.S. Federal Reserve FOMC meeting. Most believe the Fed will raise interest rates for the first time in a year.

The key “outside markets” on Wednesday find Nymex crude oil prices slightly higher. Oil traders are awaiting the results of this weekend’s meeting between OPEC and non-OPEC oil producers in Moscow, regarding implementing the cartel’s stated intention to cut oil-production levels. Meantime, the U.S. dollar index is near steady in early U.S. trading.

U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the weekly DOE liquid energy stocks report, and consumer installment credit.

20161207_gold

To get full access to all Money Morning content, click here

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

Disclaimer: © 2016 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

 

The post World Stock Markets Mostly Firmer; ECB, FOMC Meetings On Deck appeared first on Money Morning – We Make Investing Profitable.

Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading