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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 modestly higher opening on Wednesday following the mixed performance seen in the previous session.
Traders may remain reluctant to make significant moves ahead of the Federal Reserve?s monetary policy announcement this afternoon.
With the Fed widely expected to raise interest rates by a quarter point, traders are likely to keep a close eye on the accompanying statement as well as outgoing Fed Chair Janet Yellen?s press conference for clues about the outlook for future rate hikes.
Stocks turned mixed over the course of the trading session on Tuesday, as traders seemed reluctant to make significant news ahead of the Fed announcement. Despite the choppy trading, the Dow and the S&P 500 reached new record closing highs.
While the Nasdaq dipped 12.76 points or 0.2 percent to 6,862.32, the Dow climbed 118.77 points or 0.5 percent to 24,504.80 and the S&P 500 inched 4.12 points or 0.2 percent to 2,664.11.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | Consumer prices in the U.S. increased in line with economist estimates in the month of November, according to a report released by the Labor Department on Wednesday.
The Labor Department said its consumer price index rose by 0.4 percent in November after inching up by 0.1 percent in October.
Excluding food and energy prices, core consumer prices ticked up by 0.1 percent in November after rising by 0.2 percent in the previous month. Core prices had been expected to rise by 0.2 percent.
At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended December 8th.
Crude oil inventories are expected to drop by 3.8 million barrels after slumping by 5.6 million barrels in the previous week.
At 2 pm ET, the Fed is scheduled to announce its monetary policy decision, with the central bank widely expected to raise interest rates by 25 basis points. |
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| | Europe |
European stocks were subdued in the mid-market trading Wednesday, with investors remain cautious ahead of the U.S. Federal Reserve's monetary policy decision later in the day.
At its final meeting of the year, the Federal Reserve is widely expected to raise interest rates by a quarter-point. The investors are likely to keep a close eye on the accompanying statement as well as outgoing Fed Chair Janet Yellen's press conference for clues about the outlook for future rate hikes.
The traders are also awaiting Energy Information Administration's weekly U.S. crude inventories report, due at 10:30 a.m. ET.
Asian stock markets were mixed on Wednesday, with the Japanese market down, on caution ahead of the U.S. Federal Reserve's monetary policy decision.
The pan-European Stoxx Europe 600 index traded down 0.45 points or 0.11 percent at 391.18.
France's CAC 40 index traded down 5.83 points or 0.11 percent to 5,421.35.
The benchmark DAX in Germany moved down 21.65 points or 0.16 percent to 13,161.88.
However, the FTSE 100, U.K.'s benchmark for blue-chip stocks, traded up 3.07 points or 0.04 percent to 7,503.48.
On Tuesday, the European markets ended with modest gains, with DAX up 0.46 percent, the CAC 40 up 0.75 percent and the FTSE 100 up 0.63 percent.
On Wall Street on Tuesday, the Dow added 0.49 percent and the S&P 500 gained 0.15 percent, while the Nasdaq fell 0.19 percent to 6,862.32.
In stock specific news, Spanish fashion retailer Inditex were gaining around 4 percent in the morning trading after reporting higher profit and sales in the nine-month period. The company also posted positive fourth-quarter trading, with online and offline store sales up 13 percent in local currency between November 1 and December 11.
Germany's Metro AG shares gained 2 percent after reporting higher sales and like-for-like sales, despite weak profit. The company also projects a slight rise in overall sales in the next year.
Tour operator TUI AG's shares were up around 1 percent after reporting higher results in fiscal 2017, while the company sees improved earnings in the years ahead.
Serco Group plc's shares gained around 8 percent after telling that underlying trading profit for the year would come around the top end of its previous guidance range.
Meanwhile, copper producer Aurubis' shares fell around 3 percent as it said it expects stable results in fiscal 2018, despite reporting 29 percent rise in fourth-quarter profit.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Despite cautious moves ahead of the U.S. Federal Reserve's monetary policy decision due later in the day, Asian markets ended mostly higher on Wednesday, with some encouraging economic data out of Australia and Japan aiding the sentiment in the region.
The U.S. Federal Reserve will come out with its interest rate decision later in the day. It is widely expected that the Fed will announce a 25-basis points cut in interest rate.
The Australian market ended marginally up. The S&P/ASX 200 index edged up 0.1 per cent after moving in a very narrow range. The broader All Ordinaries index too gained about 1 per cent.
Oil stocks ended mostly lower. Westfield, the shopping chain owner, ended nearly 14 per cent up, riding on news that the company has accepted a takeover bid from French firm Unibail Rodamco.
Data showing a jump in consumer sentiment pushed the Aussie up against the U.S. dollar.
The Hong Kong stock exchange's HSI index is up 1.6 per cent and is near the day's high of 29,276.67, and in Shanghai, the Shanghai Composite Index ended up 0.68 per cent.
The STI index of the Singapore market edged down 0.1 per cent,while the Malaysian index KLSI gained about 0.4 per cent,
New Zealand's S&P/NZX 50 edged up marginally. The South Korean market ended lower by about 0.8 percent, and the Japanese market ended down as well, with the Nikkei225 index declining 0.47 percent.
Meanwhile, the Indian stock market is trading lower, with disappointing inflation and industrial production data triggering some selling. The BSE benchmark Sensex is down 0.3 per cent and the Nifty50 of the National Stock Exchange is lower by about 0.12 per cent.
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| | Commodities |
Crude oil futures are climbing $0.45 to $57.59 a barrel after falling $0.85 to $57.14 a barrel on Tuesday. Gold futures, which slid $5.20 to $1,241.70 an ounce in the previous session, are rising $4.70 to $1,246.40 an ounce.
On the currency front, the U.S. dollar is trading at 113.09 yen compared to the 1113.55 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.1755 compared to yesterday?s $1.1742.
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