U.S. Data Takes Centre Stage
22 December 2011 - Which Way to Pay

news_image_02.jpg
 

U.S. Data Takes Centre Stage

U.S. stock-markets futures pointed to a higher open for Wall Street, assisted by a rebound for European markets. Before trading Dow Jones Industrial Average futures were up 37 points, 0.3% to 12063. Europe stocks were in rebound mode as investors reassessed the EDB funding move, with banks among the biggest gainers. The Stoxx Europe 600 index rose 1% to 239.49 in recent action."Yesterday wasn't a great day with all the headlines about the ECB. The markets have now had an opportunity to assess yesterday's trading and are saying the gloom was perhaps overdone," said Philip Shaw, chief economist at Investec.

U.S. data is expected to take centre stage today with weekly jobless claims and final third quarter gross domestic product data both due today. Lastly the University of Michiganís December consumer-confidence index is released later along with the home price index for October. These releases should ensure more momentum for the U.S. economy beginning. The jobless claims in particular will be able to provide a clear indication into the employment situation.

Please note that the office will be closed from tomorrow until January 2nd. We wish you a Merry Christmas and a prosperous New Year!