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5 Thinks to know on a market today
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Loading...1. Focus turns to U.S. data
With market volumes beginning to thin out ahead of the year-end holiday period, investors will focus on U.S. economic data later in the day for potential catalysts.
The final revision to third-quarter GDP is released at 8:30AM ET (13:30GMT), along with weekly jobless claims and durable goods orders for November. Personal income and spending and PCE prices are released at 10:00AM ET (15:00GMT).
2. Dollar loses steam ahead of holidays
The dollar lost some steam on Thursday, slipping from its 14-year-high against a basket of currencies as investors took profits in the run-up to the Christmas weekend.
The dollar index was down 0.25% at 102.78
3. Global stock markets drift lower as holiday season approaches
U.S. stock markets pointed to modest losses at the open on Thursday morning, with the Dow remaining within sight of the psychologically important milestone of 20,000 mark as traders eyed the release of a big batch of data.
4. Italy's Monte dei Paschi on brink of bailout
Investors contemplated the future of embattled Italian lender Banca Monte dei Paschi di Siena (MI:BMPS) after media reports said a state bailout could be announced as soon as Thursday.
Shares of the ailing bank fell nearly 7% after the open, then swung up by more than 3%. They recently traded up by around 1%.
5. Bitcoin surpasses $850, highest since 2014
Web-based digital currency bitcoin hit its highest levels since January 2014 on Thursday.
Bitcoin was trading as high as $875 on the New York-based itBit exchange, before falling back to $870, up more than 4% on the day and nearly doubling its level from the start of 2016.
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