Asian Stocks Up Over Expectations of Further U.S. Stimulus. The Shanghai composite is down 0.86% at 3,567.71. Overall, the Singapore MSCI up 0.54% at 342.05. Over in Hong Kong, the Hang Seng Index up 0.48% to 28,371. In Japan, the Nikkei 225 up 1.23% at 28,810, while the Topix index is up 0.67% at 1875.5. South Korea’s Kospi up 0.05% to 3149.93. Australia S&P/ASX 200 up 0.43% to 6715.3.
European equities Wednesday closing. The DAX futures contract in Germany traded 0.11% up at 13939.71, CAC 40 futures up 0.21% at 5662.7 and the UK 100 futures contract in the U.K. down 0.13% at 6,745.5.
In U.S. on Wall Street, the Dow Jones Industrial Average closed down 0.10% at 31060.5 the S&P 500 up 0.23% to 3809.8 and the Nasdaq 100 down 0.14% at 12971.1, NYSE closes at 14983.60 down 0.18%.
In the Forex market, GBPUSD up 0.02% at 1.36343. The USDJPY up 0.16% at 104.040. The USDCHF up 0.01% at 0.88740. EURUSD down 0.04% at 1.21523, EUR/GBP up 0.02% at 0.89127. The USD/CNY flat at 6.4661, at the time of writing.
In the commodity market U.S. Gold futures down 0.06% at $1,843.72. Elsewhere, Silver futures up 0.39% to $25.273 per ounce, Platinum up 0.79% at $1102.67 per ounce, and Palladium up 0.04% to $2,392.00.
Crude Oil down on Thursday; Brent crude oil down 0.04% to $55.98 barrel while U.S. West Texas Intermediate (CLc1) is down 0.32% at $52.37.
In the Cryptocurrency Markets, BTCUSD at 37936.72 up 1.45%, Ethereum at 1123.51 down 0.69%, Litecoin at 147.62 down 0.12%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
INTEL Corp. up 6.968% at $56.95, DISCOVERY Inc. up 3.938% at $36.69, TECHNIP FMC PLC down 7.794% to $11.83, APACHE Corp. down 3.94% to $17.80, PAYPAL Holdings up 3.055% to $244.90, QUALCOMM Inc. up 1.923% at $157.42.
US: President-elect Joe Biden will press Congress on Thursday to deliver immediate pandemic “rescue” efforts before turning to broader “recovery” measures like healthcare and infrastructure, the incoming administration’s top economic adviser said on Wednesday.
In an appearance at Reuters Next, Brian Deese, who will head the National Economic Council in the new Democratic administration, said Biden will lay out a two-track economic plan.
The first will be a “rescue bucket,” including rounding out the $2,000 payments he wanted to help weather the COVID-19 downturn, and a longer-term recovery effort that aims to deliver on the Build Back Better plan he laid out during the presidential campaign.
Eurozone: European Central Bank President Christine Lagarde pushed back against pessimism on Wednesday, predicting an economic rebound as COVID-19 uncertainty subsides and saying that Europe has all the tools needed to overcome the crisis.
Even with much of the 19-member euro area in lockdown, Lagarde continued to forecast a recovery, provided that economic restrictions can be lifted from the second quarter and the bloc can overcome a “laborious” start to vaccinations.
The ECB last month cut its 2021 growth forecast to 3.9% but increasingly widespread curbs on movement and activity in countries including Germany and France, along with the slow rollout of vaccines, are already challenging that outlook.
Important Data: US Initial Jobless Claims today at 8:30 this time estimate to be 795K, previously which was 787K. AUSTRALIA Home Loans (MoM) today at 19:30 previously which was 0.8%. RUSSIA Central Bank reserves (USD) today at 8:00 previously which was 592.4B. German GDP (QoQ) today at 4:30 previously which was 8.5%.
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