- Summary:
- Stock futures in Wall Street trade higher before the market open as investors cheered strong manufacturing data from China and Eurozone.
Stock futures in Wall Street trade higher before the market open as investors cheered strong manufacturing data from China and Eurozone. The China Caixin Manufacturing PMI came in at 51.8 topping forecasts of 51.4 in November. The China manufacturing PMI came in at 51.8 the October reading was at 51.7. Germany Manufacturing PMI came in at 44.10 above market consensus of 43.8 for November. The European Monetary Union Manufacturing PMI came in 46.9 above expectations of 46.6 in November while the France Manufacturing PMI came in at 51.7, topping forecasts 51.6 in November.
The Nasdaq futures trading 0.10% higher at 8,425, the Dow Jones Industrial futures trading 0.16% higher at 28,116, the S&P 500 futures trading 0.14% higher at 3,148 but off the daily highs after President Trump tweeted that will restore the tariffs on steel and aluminum products that is shipped into the U.S. from Brazil and Argentina.
US ISM manufacturing data will be released later today and will provide fresh clues on the status of the U.S. manufacturing sector.
Asian stocks finished mostly higher; the Nikkei 225 finished 1.01% higher at 23,529; the Hang Seng added 0.37% at 26,444, while the Singapore Straits Times Index ended 0.19% lower at 3,187.
European stocks turned lower despite a positive start, after the return of steel tariffs on Brazil and Argentina. The Dax index as of writing trades 0.20% lower, the CAC 40 trading 0.38% lower at 5,882 while the FTSE 100 in London trades 0.08% lower at 7,341.
In foreign exchange, the GBP to USD is 0.03% higher at 1.2930, the EURUSD trades 0.01% lower at 1.1015 rebounding from the daily lows at 1.1002 while the USDTRY trades lower on positive Turkish GDP; the AUDUSD is 0.39% higher at 0.6786 capitalising the strong manufacturing data from China and despite Building Permits came in at -8.1%, below forecasts of -4% in October.
USDJPY continues higher at 109.53 after the Jibun Bank Manufacturing PMI came in at 48.9, beating forecasts of 48.6 in November. Capital spending in the country increased from previous 1.9% to 7.1% in the third quarter. Vehicle sales in Japan increased from previous -26.4% to -14.6% in November.
In commodities markets, Gold prices breakout higher while crude Oil prices rebound above the 100-day MA ahead of the OPEC meeting in Vienna.
In crypto currencies markets, the Bitcoin BTCUSD retreat today below $7,300, canceling the recent rebound, while ETHUSD trades 1.32% lower at 119.13 and LTCUSD gives up 3.58% at 45.80.