Markets higher ahead of the Fed... Oil slips 1 per cent as output rises...
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The Federal Reserve announces its interest rate decision today and expectation is that it will increase the rate by 25 basis points to 1.25%.
The markets are broadly higher ahead of the release while other regional matters are also in focus along with a new decline for oil prices.
Asian markets closed mixed with Chinese retail and industrial production data adding to sentiment, although neither was remarkable. Japan’s industrial production index was flat.
European markets are trending higher with the Fed strongly in focus and tech stocks continue to recover. Industrial output for the Eurozone, and for Germany, was flat.
Wall Street and Toronto are expected to open higher. The Fed’s interest rate decision, CPI and retail data, and US oil and gasoline inventory data is all due. Canadian home price data is due.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
21,328.47 (+0.44 per cent) |
+2.07 per cent |
+20.67 per cent |
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TSX Composite |
15,379.75 (-0.03 per cent) |
-1.02 per cent |
+10.77 per cent |
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Europe (at 5.00am ET) |
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UK FTSE |
7,533.37 (+0.44 per cent) |
+1.32 per cent |
+27.18 per cent |
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German DAX |
12,843.58 (+0.62 per cent) |
+0.57 per cent |
+34.92 per cent |
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Asia (at close) |
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China CSI 300 |
3,535.30 (+1.31 per cent) |
+4.43 per cent |
+14.93 per cent |
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Japan Nikkei |
19,883.52 (-0.08 per cent) |
+0.00 per cent |
+25.38 per cent |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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48.37 (-0.72 per cent) |
46.02 (-0.95 per cent) |
1270.10 (+0.12 per cent) |
U$0.7578 |
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Aus. Dollar |
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U$0.7586 |
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Oil slips 1 per cent as output rises
Rising US and OPEC oil output is pressuring prices again Wednesday. US crude dropped almost 1 per cent overnight and one analyst is warning that, without a deeper cut in production, there could be a $30 barrel on the horizon.
Speaking on CNBC’s Squawk Box, Fereidun Fesharaki, founder and chairman of consulting group FGE, said that the demand is robust but the slump in prices could come next year if countries such as Nigeria and Libya don’t cut output.
