Remarks by ECB President Mario Draghi raised hopes for further monetary stimulus and buoyed stocks, while the euro traded lower against the dollar. Oil rebounded from 12-year lows on short covering. Treasuries fell on weak investor demand at $15 billion auction of 10-year TIPS and gold futures slipped.
The U.S. Commerce Department releases wholesale figures for October. The wholesale inventories are forecast to have gained 0.1 percent after adding 0.5 percent in September. Sales at wholesalers are also expected to have risen 0.4 percent in October Spreadbetters see European shares opening touch higher Dollar steadies against other major currencies Brent gets respite after
If the market is not trading lower there is only one direction it could take. The current range trading cannot last much longer. Because of the American holidays I might give the benefit of the doubt if we don’t trade to 2100. Indexes were little changed with early reports on the holiday shopping suggesting weak turnout weighed on
Consolidation above long term trend-line The dollar hit a 6-1/2-month high against the euro on growing expectations the Federal Reserve will raise interest rates next month, while gold retreated. Gains in healthcare stocks buoyed the Dow and the S&P and Apple dragged the Nasdaq lower. Oil traded higher after the International Energy Agency estimated a drop