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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 following the mixed performance seen in the previous session.
Early buying interest may be generated in reaction to a batch of upbeat economic data, including a report from the Commerce Department showing a bigger than expected increase in retail sales in the month of November.
Stocks turned in another mixed performance during trading on Wednesday as traders reacted to the Federal Reserve?s widely expected decision to raise interest rates.
While the S&P 500 edged down 1.26 points or 0.1 percent to 2,662.85, the Dow rose 80.63 points or 0.3 percent to 24,585.43 and the Nasdaq inched up 13.48 points or 0.2 percent to 6,875.80.
The mixed closed on Wall Street came as the Fed raised the benchmark U.S. interest rate to a range of 1.25 percent to 1.5 percent but struck a dovish tone on future rate hikes amid stubbornly low inflation.
"Averaging through hurricane-related fluctuations, job gains have been solid, and the unemployment rate declined further," the Fed's statement read.
The central bank added, "Household spending has been expanding at a moderate rate, and growth in business fixed investment has picked up in recent quarters."
While the economy is humming along nicely, the Fed said core inflation will continue to run below its 2 percent annual target in 2018.
In economic news, the Labor Department released a report showing consumer prices increased in line with economist estimates in the month of November.
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.
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| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | Retail sales in the U.S. increased by much more than anticipated in the month of November, the Commerce Department revealed in a report.
The report said retail sales climbed by 0.8 percent in November after rising by an upwardly revised 0.5 percent in October.
Economists had expected retail sales to increase by 0.3 percent compared to the 0.2 percent uptick originally reported for the previous month.
Excluding a modest decrease in sales by motor vehicle and parts dealers, retail sales surged up by 1.0 percent in November after climbing by 0.4 percent in October.
A separate report released by the Labor Department showed an unexpected decrease in initial jobless claims in the week ended December 9th.
The report said initial jobless claims dropped to 225,000, a decrease of 11,000 from the previous week's unrevised level of 236,000 Economists had expected jobless claims to inch up to 239,000.
Another report released by the Labor Department showed import prices increased in line with economist estimates in the month of November, while export prices rose by much more than anticipated.
The Labor Department said its import price index climbed by 0.7 percent in November after inching up by 0.1 percent in October.
Export prices rose by 0.5 percent in November after ticking up by 0.1 percent in the previous month. Economists had expected export prices to edge up by 0.2 percent.
At 10 am ET, the Commerce Department is scheduled to release its report on business inventories in the month of October. Business inventories are expected to dip by 0.1 percent. |
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| | Europe |
European stocks have moved to the downside on the day following the European Central Bank?s announcement of its decision to leave interest rates unchanged.
While the German DAX Index has slid by 0.7 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both down by 0.2 percent.
In corporate news, German engineering specialist Bertrandt Group's stock declined around 2 percent after reporting sharply lower profit in its fiscal 2017, despite slightly higher revenues. The company also maintained its dividend.
Petrofac shares fell around 2 percent after it said its overall trading remains in line with expectations and that Chairman Rijnhard Van Tets has notified the Board of his intention to step down from the Board.
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| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian markets ended mostly lower on Thursday, with investors digesting a slew of economic reports from the region and reacting to an interest rate hike in the U.S.
Although most of the markets in the region started off on a slightly positive note, many of these gave up early gains. In China, the central bank's decision to increase rates on open market operations weighed on sentiment.
The Australian market failed to hold early gains and ended flat, although a few front line stocks managed to register handsome gains.
The benchmark S&P/ASX 200 Index declined 10.50 points or 0.2 percent to 6011.30, snapping a five-session winning streak.
Shares of mining companies Independence Group and Resolute Mining Limited gained nearly 6.5% each. West Areas, Whitehaven Coal and Syrah Resources gained 4.75 - 5.4 percent.
Myer Holdings plunged 9.6 percent following a profit warning by the company. Metcash, RTL Food, Credit Corp and Qantas declined 2.8 - 3.3 percent.
In economic news, the unemployment rate in Australia came in at a seasonally adjusted 5.4 percent in November, the Australian Bureau of Statistics said. That was in line with expectations and unchanged from the October reading.
The Australian economy added 61,600 jobs last month, shattering expectations for a gain of 19,000 jobs following the addition of 7,800 jobs in the previous month.
Save for a few minutes at the start of the session, the Japanese were in negative territory, despite reasonably encouraging economic data. The benchmark Nikkei 225 Index ended down 63.62 points or 0.3 percent at 22,694.45.
Rakuten declined nearly 5 percent. Konica Minolta, Yahoo Japan, Furukawa Electric, Chiyoda Corp, Daikin Industries, TDK Corp, Casio Computer, Concordia Financial Group, Nikon Corp, Credit Saison, Resona Holdings, Softbank Group, Mizuho Financial Group and Matsui Securities ended lower by 1 to 3 percent.
Data released by IHS Markit showed manufacturing activity in Japan to have expanded at the fastest pace in nearly four years in December. The Nikkei flash Manufacturing Purchasing Managers' Index climbed to 54.2 in December from 53.6 in November.
On the price front, input price inflation eased in December, while output price inflation accelerated to a 41-month high, data showed.
According to a report from the Ministry of Economy, Trade and Industry, Japanese industrial production rebounded as initially estimated in October, rising a seasonally adjusted 0.5 percent month-over-month. In September, production had declined 1.0 percent.
In China, the Shanghai Composite Index declined 9.46 points or 0.3 percent to 3,293.58. Hong Kong's Hang Seng Index declined 55.72 points or 0.2 percent to settle at 29,166.38.
The Chinese central bank unexpectedly lifted its rates on open market operations following the Federal Reserve's decision to tighten its policy rates. The People's Bank of China raised its 7-day and 28-day reverse repo rates by 5 basis points to 2.50 percent and 2.80 percent, respectively. The bank raised the rate on its Medium-term Lending Facility by 5 basis points to 3.25 percent.
Data released by the National Bureau of Statistics showed industrial production in China to have grown 6.1 percent year-on-year in November, slower than the 6.2 percent increase recorded a month earlier.
Meanwhile, retail sales grew at a faster pace on domestic consumption, improving to 10.2 percent, up 0.2 percent from the previous month.
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| | Commodities |
Crude oil futures are falling $0.36 to $56.24 a barrel after sliding $0.54 to $56.60 a barrel on Wednesday. An ounce of gold is trading at $1,256.10, up $7.50 compared to the previous session?s close of $1,248.60. On Wednesday, gold climbed $6.90.
On the currency front, the U.S. dollar is trading at 112.82 yen compared to the 112.54 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1825 compared to yesterday?s $1.1826.
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