[ad_1]
© Reuters.
Investing.com – Here are the top five things to know about the financial markets on Wednesday, November 28:
1. The American future goes higher
US equities futures signaled greater openness, as markets awaited new signals from the Federal Reserve on interest rates, while the US-China trade war remained center of concern.
At 5:30 (ET) (10:30 GMT), the blue-chip gained 77 points, or about 0.3%, the tick of 6 points, or about 0.25%, while the techno-heavy indicated a gain of 22 points, or about 0.3%. .
Pre-market moves came after Wall Street finished slightly higher, with concerns about the trade appearing to abate following optimistic comments from White House economic advisor Larry Kudlow.
Elsewhere, trade increased slightly in the middle of the morning as most sectors and major stock exchanges in the region were in positive territory, with investors keeping an eye on Brexit developments and the fiscal crisis in Italy.
Previously, closed markets were mainly up, with mainland China markets outperforming given the likelihood of a potential advance in the US-China trade dispute.
Read more: : Haris Anwar
2. Dollar climbs to its highest level in two weeks
Far from the stock, the rise for the third consecutive session hit a two-week high against a basket of currencies.
The, which measures the strength of the bank note against a basket of six major currencies, was slightly higher at 97.28, after peaking at 97.44 in one day, its best level since November 13.
The dollar remained at its highest level in two weeks against the yen, with 113.79.
The euro was at the two-week low against the dollar, with a change of hands at 1.285.
Elsewhere, the highest slightly. The Bank of England will release its badessment of the UK's Brexit withdrawal agreement later in the day, which would likely contain warnings of a Brexit no deal scenario.
3. Fed Chairman Powell Speaks
The eyes of Wall Street will be on the Federal Reserve Chairman when he will say what some say will be the most important speech of his tenure at the head of the US central bank.
Powell is scheduled to attend a luncheon at the Economic Club of New York at 12:00 pm ET (5 pm GMT). His comments will be helpful to investors who have reduced their expectations regarding future rate hikes as a result of recent remarks by a number of Fed officials, interpreted as dovish.
A fourth rate hike this year is expected next month, but the road from there is not clear. While Fed policymakers have pointed to three increases in 2019, the market predicts only one.
US President Donald Trump of Powell said rising interest rates and other Fed policies were detrimental to the US economy.
"Until now, I'm not even a little happy with my selection of Jay," Trump said in an interview with the Washington Post.
4. Revised third quarter GDP in the United States
Wednesday's calendar presents the biggest point of economic data of the week.
The Commerce Department will release revised economic growth figures for the third quarter at 8:30 am ET (1:30 pm GMT), which should bolster the notion of a strong economy.
According to the consensus forecast, the report will show that the US economy grew at an annual rate during the three months ending September 30, a slight upward revision from a preliminary estimate of 3.5%.
In addition to the GDP report, investors will keep an eye on the latest October reading scheduled at 10:00 am (3 pm ET). Recent data has painted a disturbing picture of the US housing market, with rising mortgage rates and tight inventories.
5. EIA Weekly Oil Supply Report
On the commodities market, the US Energy Information Administration will release its official weekly oil supply report for the week ended Nov. 23 at 10:30 am ET (3:30 pm GMT).
Analysts expect the EIA to report an increase in the supply of crude oil. If this is confirmed, it would be the tenth consecutive weekly increase in oil stocks in the domestic market.
US futures contracts fell 2 cents to 51.54 dollars a barrel.
At the same time, international futures fell by 5 cents to 60.35 dollars a barrel, as traders continue to weigh on the prospects for a coordinated reduction in output of the world's major oil producers before the OPEC meeting next week.
[ad_2]
Source link
