NEW YORK (WSI) – Starting volatile for US stocks as investors bet on a future rise in US interest rates after the new confirmation about the state of health of the labor market.
In a ‘ hour after the start of trading, the major indexes veer into positive territory.
Today, in this regard, requests for new unemployment benefits fell by 5,000 weekly units’ share to 271,000. The figure ‘in line with the estimates amounted to 270,000 requests. It ‘another sign of the tone’ of the US labor market, so ‘as demonstrated by the excellent report on employment in October spread earlier this month.
Since then, expectations for a rate hike by Federal Reserve in December rose. Investors look to the minutes of the last meeting of the European Central Bank and the Federal Reserve. While the documents released today from Frankfurt confirm a possible increase of the stimuli from the Eurotower on 3 December, those published yesterday from Washington feeding expectations for a rise in interest rates on December 15 to 16.
A decision by Governor Janet Yellen is not ‘yet been taken, but other than a few contrarian, most members of the Federal Open Market Committee is expected that next month they reached the conditions justifying a close, the first since 2006.
For more ideas on this issue, traders and managers are prepared to listen to the speeches today by Dennis Lockhart, Atlanta Fed President favorable to start the normalization of US monetary policy, and Stanley Fischer, vice president of the Fed.
Hardly aggiungerenno more ‘than already’ do not know. Meanwhile Loretta Mester, president of the Cleveland Fed, said speaking on CNBC to be confident that inflation will be back ‘to rise towards the 2% target of the central bank. If a close seems almost certain, ‘the rate at which is to take place’ in which investors are questioning. According to the minutes, it will be ‘very gradual thing that the market likes.
The Federal Reserve, in its last few minutes, said he was confident in the economy, making it clear that it is ready for a rise rate in December . At the same time hinted that if the recovery is satisfactory is also willing to launch monetary stimulus.
On the macro front, positive signs also came dal’indice Activities’ manufacturing and Philadelphia Fed ‘improved to 1.9 points in November, the first performance in positive after two months to below zero, that’ in the territory of economic contraction. In October, the index stood at -4.5 points.
Among individual stocks, on headlamps onset of Square and Match Group, while the quarterly chain electronics store Best Buy has disappointed and the title pays the result (-6.3%).
On the currency, timid recovery in euro against the dollar after regaining share 1,070. When actually advancing + 0.13% but does not allow the single currency to touch 1.07. The euro is worth $ 1.0674, 0.6994 pounds (-0.03%), 1.0886 Swiss francs (+ 0.15%) and 131.48 yen (-0.23%).
Sold futures on WTI oil that yield 1.62% to $ 40.09 per barrel. Brent lost 0.84% to 43.77. Gold is little changed at $ 1.070 an ounce.
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