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5 Things to Know in the Market Today
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Loading...1. Oil hits 18-month high as output deal kicks in
Oil prices rose sharply in the first trading session of 2017 on Tuesday, as traders watched developments surrounding the landmark deal reached by the Organization of the Petroleum Exporting Countries and several non-OPEC oil producers to reduce their output this year.
2. Dollar climbs back toward 14-year high
The U.S. dollar resumed its rally on Tuesday, climbing back toward its 14-year-high against a basket of currencies as the prospect of rising U.S. interest rates this year kept sentiment bullish.
Against the yen, the dollar was up around 0.65% at 118.26, not far from an 11-month high of 118.65.
3. World stocks start 2017 on positive note
U.S. stock markets pointed to a higher open on Tuesday morning, with the Dow futures climbing more than 130 points, as traders eyed key data releases on the first trading day of 2017.
On the data front, Tuesday will see manufacturing PMI data released at 9:45AM ET (13:45GMT), followed by ISM manufacturing and construction spending which are both scheduled for 10:00AM ET (15:00GMT).
4. Global manufacturing PMI's hit multi-year highs
Signs of solid factory growth in China, the U.K. and Europe gave the global manufacturing sector a solid boost heading into the new year.
5. Bitcoin prices stabilize around $1,020
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