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5 Things to Know In the Market Today
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Loading...1. November Fed minutes, data cement rate hike bets
The minutes from the Federal Reserve’s meeting released Wednesday showed officials believed an interest-rate increase was possible “relatively soon” as long as economic data continued to indicate that the economy is improving.
Some Fed officials explicitly called for a rate hike in December, arguing that the banks reputation could be put at risk by further delaying a rate increase.
2. Dollar hits fresh 14-year highs
The dollar extended its powerful rally on Thursday, spurred on by expectations for higher interest rates, hitting the highest levels since April 2003 against a basket of currencies.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 101.64, after earlier rising as high as 102.11.
3. European stocks rise after record Wall Street highs
European stocks moved higher on Thursday after Wall Street climbed to record highs for a third consecutive session.
The EURO STOXX 50 rose 0.20%, France’s CAC 40 added 0.26%, while Germany’s DAX 30 gained 0.34%.
4. Oil prices slightly higher in holiday-thinned trade
Oil prices edged higher on Thursday, but uncertainty over a planned OPEC-led output cut and the stronger dollar weighed.
U.S. crude oil was up 18 cents or 0.38% at $48.11 a barrel
5. German slowdown confirmed, business climate stable
Data on Thursday confirmed that German third quarter growth slowed to 0.2% as weak export growth acted as a drag on the economy.
German exports fell by 0.4% during the quarter, pointing to weakening global demand, while imports rose by 0.2%.
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