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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | | The major U.S. index futures are pointing to a higher opening on Thursday, with the Dow futures up by 83 points. The upward momentum on Wall Street comes following the weakness seen over the two previous sessions.
After moving to the downside early in the session, stocks climbed off their worst levels of the day on Wednesday but remained mostly in negative territory.
The Dow ended the day down by 138.19 points or 0.6 percent at 23,271.28. the Nasdaq dropped 31.66 points to 6,706.21 and the S&P 500 fell 14.25 points or 0.6 percent to 2,563.62.
The weakness on Wall Street came on the heels of the decline seen by stocks overseas amid concerns about the global economy.
Uncertainty about Republican lawmakers' ability to come together and pass tax reform legislation also weighed on the markets.
Traders were also digesting the latest batch of U.S. economic news, including a report from the Commerce Department showing a modest increase in retail sales in the month of October.
Economists had expected retail sales to come in unchanged compared to the 1.6 percent jump originally reported the previous month.
Excluding an increase in auto sales, retail sales still inched up by 0.1 percent in October following a 1.2 percent surge in September. Ex-auto sales had been expected to rise by 0.2 percent.
With an increase in shelter costs offsetting a pullback in energy prices, the Labor Department released a report showing an uptick in U.S. consumer prices in the month of October.
The Labor Department said its consumer price index inched up by 0.1 percent in October after climbing by 0.5 percent in September. The modest increase in consumer prices matched economist estimates.
Excluding food and energy prices, core consumer prices rose by 0.2 percent in October after edging up by 0.1 percent in the previous month. The increase in core consumer prices also met expectations.
Growth in New York manufacturing activity slowed by more than anticipated in the month of November, according to a report released by the Federal Reserve Bank of New York.
The New York Fed said its general business conditions index dropped to 19.4 in November from 30.2 in October, although a positive reading still indicates growth. Economists had expected the index to fall to 26.0.
After leading the markets lower in the previous session, energy stocks once again showed notable moves to the downside.
The weakness among energy stocks came amid a continued decrease by the price of crude oil, with crude for December delivery falling $0.37 to $55.33 a barrel.
Oil service stocks showed a substantial move to the downside, dragging the Philadelphia Oil Service Index down by 1.8 percent.
Commercial real estate, retail and software stocks also saw notable weakness on the day, while airline stocks showed a strong move to the upside. |
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| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | First-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 11th, according to a report released by the Labor Department.
The report said initial jobless claims rose to 249,000, an increase of 10,000 from the previous week's unrevised level of 239,000. Economists had expected jobless claims to edge down to 235,000.
A separate report released by the Labor Department showed U.S. import prices rose by less than expected in the month of October.
The Labor Department said import prices rose by 0.2 percent in October after climbing by 0.8 percent in September. Economists had expected import prices to increase by 0.4 percent.
Meanwhile, the report said export prices were unchanged in October after increasing by 0.7 percent in the previous month. Export prices had been expected to climb by 0.4 percent.
Growth in Philadelphia-area manufacturing activity slowed by more than expected in the month of November, according to a report released by the Federal Reserve Bank of Philadelphia.
The Philly Fed said its diffusion index for current manufacturing activity in the region dropped to 22.7 in November from 27.9 in October.
While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to show a more modest decrease to 25.0. |
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| | Europe markets | | European stocks rebounded after recent losses on Thursday as oil held steady, the dollar bounced back from four-week lows and investors kept an eye on U.S. tax reform developments.
The day's economic reports proved to be a mixed bag, with Eurozone inflation slowing slightly as initially estimated in October, while U.K. retail sales rose slightly faster than expected in the month.
The pan-European Stoxx Europe 600 index was up 0.7 percent at 384.53 in late opening deals after closing half a percent lower in the previous session.
The German DAX was rising 0.6 percent and France's CAC 40 index was gaining 0.7 percent while the U.K.'s FTSE 100 was marginally higher in choppy trade.
Deutsche EuroShop shares climbed over 3 percent. The real estate investment company confirmed its FY outlook after reporting an 18 percent increase in consolidated profit for the first nine months of 2017.
Deutsche Bank advanced 2.6 percent, a day after U.S. buyout fund Cerberus took a 3 percent stake in the bank.
Volkswagen jumped 2.7 percent after it unveiled plans to launch 15 new energy vehicles over 2-3 years.
Industrial group Bouygues soared 5 percent. The company confirmed its FY17 profit growth view after more than doubling its nine-month net profit.
British private equity firm 3i Group rallied 2 percent after good first-half results.
Swedish home appliance manufacturer Electrolux fell 2.3 percent despite issuing positive outlook for 2018.
French food services and facilities management company Sodexo, which is buying U.S. company Centerplate, tumbled 2.7 percent.
Engineering giant GKN slumped 7 percent in London after saying its write-offs related to troubles with its U.S. plant could be up to £130 million. |
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| | Asia markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | Asian stocks closed broadly higher on Thursday as oil held steady, the yen weakened and investors looked ahead to the U.S. House vote on a sweeping tax reform bill later today.
China's Shanghai Composite index edged down 0.1 percent to close at 3,399.25, while the CSI300 index rose as much as 0.77 percent to 4,105.01, snapping a two-day losing streak. Hong Kong's Hang's Hang Seng index was up 0.74 percent at 29,064 in late trade.
Japanese shares rose sharply to snap a six-day losing streak as a weakening yen helped offset weak overnight cues from Wall Street. The Nikkei average climbed 322.80 points or 1.47 percent to 22,351.12, while the broader Topix index closed 1 percent higher at 1,761.71. Japan Steel Works, Chugai Pharma, Shiseido, Nippon Paper Industries and Nippon Sheet Glass were among the top gainers.
Australian shares erased early losses to end modestly higher after Santos said it rejected an unsolicited, "inadequate" August offer from U.S. investment vehicle Harbour Energy. The benchmark S&P/ASX 200 rose 9.30 points or 0.16 percent to 5,943.50 while the broader All Ordinaries index ended up 11.20 points or 0.19 percent at 6,023.50.
Santos jumped 13 percent to its highest level in 14 months while Oil Search rose 1.3 percent and Beach Energy rallied 3.3 percent. Miners ended narrowly mixed after base metals prices slid sharply on Wednesday on concerns about slowing Chinese growth. Newspaper publisher Fairfax Media slumped 31 percent after the spin-out of its online real estate business Domain Holdings Australia.
On the economic front, official data showed that the Australia's jobless rale fell to a four-and-a-half-year low of 5.4 percent in October versus expectations of it holding steady at 5.5 percent.
South Kora's Kospi average jumped 0.67 percent to finish at 2,538.28 as trading resumed an hour later because of national exam.
New Zealand shares eked out modest gains, led higher by Kathmandu Holdings, A2 Milk, Synlait and Z Energy. The benchmark S&P/NZX-50 index rose 34.76 points or 0.43 percent to 8,034.70.
Consumer confidence in New Zealand took a hit in November, the latest survey from ANZ Bank revealed today. The bank's consumer confidence index fell 2.1 percent sequentially to a score of 123.7.
India's Sensex was rising 0.8 percent and Indonesia's Jakarta Composite index was rallying 1.1 percent while Singapore's Straits Times index was down about half a percent. Benchmark indexes in Malaysia and Taiwan were marginally lower. |
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| | Commodity, Currency Markets | | Crude oil futures are slipping $0.14 to $55.19 a barrel after falling $0.37 to $55.33 a barrel on Wednesday. An ounce of gold is trading at $1,279.50, up $1.80 compared to the previous session’s close of $1,280.70. On Wednesday, gold slid $5.20.
On the currency front, the U.S. dollar is trading at 113.05 yen compared to the 112.88 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1769 compared to yesterday’s $1.1791. |
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