ALPHA Market Update 04 December 2018

04.12.2018

Market Update

 

 

 

United States

  • US November ISM manufacturing index stopped falling for two consecutive months, rebounded after hitting a half-year bottom in October
  • Fed Vice Chairman Clarida said that the current US economic outlook is solid and the Fed’s policy framework is working well, but the upcoming assessment may suggest some “improved” approaches. On the same day, Federal Reserve Governor Brainard said in a speech that the government bond market has adapted well to the post-crisis rules, but the Fed is still worried that large fluctuations in the market may pose a threat to financial stability.
  • Trump told the media on the evening of December 1 that he had a “very good relationship” with Kim Jong-un and believed that the two would meet again in January or February next year.
  • The S&P 500 index closed up 30.20 points, or 1.09%, to 2,790.37 points. The Dow Jones Industrial Average closed up 287.97 points, or 1.13%, to 25,826.43 points. The NASDAQ Composite Index closed up 110.98 points, or 1.51%, to 7441.51 points.

Europe

  • THE City of London is more prepared for a no-deal Brexit than the European Union, the head of the UK’s financial services regulator has revealed. Andrew Bailey told the Treasury Select Committee that a “very substantial range of mitigating actions” had been “planned and executed” to protect customers in the event of the UK crashing out of the EU without a deal. But the chief executive of the Financial Conduct Authority warned the bloc was in a “different place” in terms of shielding EU consumers from no-deal chaos. Speaking to the Treasury Selection Committee, the finance chief said: “We hope that for UK resident consumers that the very substantial range of mitigating actions that are both planned and being executed will substantially alleviate the position of UK consumers from a financial services point of view.

 

Commodities

  • Record Saudi oil production pulled down crude prices on Tuesday amid cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria. International Brent crude oil futures briefly dipped below $60 per barrel before edging back to $60.10 per barrel at 0147 GMT, still down 38 cents, or 0.6 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $51.21 per barrel, down 42 cents, or 0.8 percent. Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month.

 

No Comments
prev next
about us

"Alpha Trader Ltd is a well established financial trading company for over 10 years leading as a true industry leader, we have been investing in the skills and development of Traders with client accounts across the globe. "

office location
+44 0203 637 3999
3A, 1 Portland Street, Manchester, M1 3BE
info@alphatrader.co.uk
opening hours
Mon - Fri
8:00 - 18:00
Saturday
CLOSE
Sunday
CLOSE
Subscribe our newsletter
December 2018
M T W T F S S
« Nov    
 12
3456789
10111213141516
17181920212223
24252627282930
31