Morning Briefing: Fed, Trump in focus

Morning Briefing: Fed, Trump in focus

Morning Briefing: Fed, Trump in focus Fed, Trump in focus
The interest rate decision by the Fed will come as no real surprise when it’s announced later; markets have been pricing in a rise of 25 basis points for some time, taking the US rate to 0.75 per cent.

How the next 12 months is mapped out by the Fed, and how the new president’s policies will impact markets, is of greater concern.

Asian equity indexes closed mixed Wednesday with Shanghai lower and Tokyo, Hong Kong and Seoul flat. Sydney performed better.

European markets are trending lower ahead of the Fed; they will have closed before the interest rate decision is announced.

Wall Street and Toronto are expected to open flat.
 
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North America (previous session)
US Dow Jones 19,911.21 (+0.58 per cent) +5.64 per cent +15.33 per cent
TSX Composite 15,385.27 (+0.64 per cent) +5.39 per cent +21.19 per cent
 
Europe (at 5.00am ET)
UK FTSE 6,957.56 (-0.16 per cent) +3.00 per cent +18.63 per cent
German DAX 11,272.17 (-0.11 per cent) +5.41 per cent +11.17 per cent
 
Asia (at close)
China CSI 300 3,378.95 (-0.77 per cent) -1.50 per cent -8.22 per cent
Japan Nikkei 19,253.61 (+0.02 per cent) +8.95 per cent +1.96 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
55.18
(-0.97 per cent)
52.38
(-1.13 per cent)
1163.00
(+0.35 per cent)
U$0.7624
 
Aus. Dollar
U$0.7499

 
Dennis Gartman says this is the sector for investment
“I want to own the things that if I drop them on my foot will hurt,” prolific investor Dennis Gartman told CNBC.

He was referring to Donald Trump’s plan to increase infrastructure spending. The plan means that Gartner wants to buy into the sectors which will benefit most from the spending including materials and railroads.

He called Ohio’s “Steel Valley” the new Silicon Valley with an inflow of investment ahead.