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13 December 2017
 |
| China markets (The Total Investment & Insurance Solutions) |
Global stock markets
traded in narrow ranges Wednesday ahead of an expected interest rate hike from
the U.S. Federal Reserve.
KEEPING
SCORE: In Europe, Germany's DAX was down 0.1 percent 13,172 while France's
CAC-40 fell 0.3 percent at 5,413. London's FTSE 100 was up 0.1 percent at
7,511. On Tuesday, the CAC-40 rose 0.8 percent, the FTSE 100 rose 0.1 percent
to 7,510. U.S. stocks were poised for a flat opening with Dow futures and the
broader S&P 500 futures up 0.1 percent.
FED
WATCH: The Fed is widely expected to raise on Wednesday its key interest rate
for the third time this year as the U.S. economy strengthens. Investors appear
confident that the economy can withstand a gradual increase in rates. However,
they will be keeping a close eye on Fed Chair Janet Yellen's comments during a
news conference for signals on how aggressive the Fed might be in raising rates
next year. Though Yellen's term as chair ends in February, she will largely be
expressing the views within the wider Fed rate-setting committee.
INFLATION:
Inflation figures did nothing to alter expectations of another hike. Surging
gasoline prices pulled U.S. consumer inflation up 0.4 percent in November. The
Labor Department said Wednesday that prices at the pump increased a sharp 7.3
percent after falling in October. Excluding volatile food and energy prices,
so-called core consumer inflation rose a more modest 0.1 percent in November. The Total
Investment & Insurance Solutions
ANALYST
TAKE: "With the headline CPI inflation rate at 2.2 percent and the core
rate at 1.7 percent, inflation is still a little below the Fed's comfort range,
but it won't stop the FOMC announcing an interest rate hike later today,"
said Paul Ashworth, chief U.S. economist at Capital Economics.
EUROPE:
The European Central Bank and the Bank of England will have policy
announcements on Thursday. Neither is expected to change rates, leaving the
focus on their economic forecasts. The Total Investment & Insurance Solutions
ASIA'S
DAY: The Shanghai Composite Index gained 0.7 percent to 3,303.04 and Hong
Kong's Hang Seng rose 1.5 percent to 29,222.10. Tokyo's Nikkei 225 shed 0.5
percent to 22,758.07 and Seoul's Kospi added 0.8 percent to 2,480.55. Sydney's
S&P-ASX 200 advanced 0.1 percent and India's Sensex added 0.4 percent to
33,345.06. The Total Investment & Insurance Solutions
CURRENCY:
The euro was up 0.1 percent at $1.1753 while the dollar fell 0.4 percent to
113.05 yen. The Total Investment & Insurance Solutions
ENERGY:
Benchmark U.S. crude rose 53 cents to $57.67 per barrel in electronic trading
on the New York Mercantile Exchange while Brent crude, used to price
international oils, advanced 76 cents to $64.10 in London.The Total Investment & Insurance
Solutions
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