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Market Update

Global Markets

World Stock Markets Trade Mixed; FOMC Minutes On Deck

(Kitco News) – World stock markets were mixed Wednesday. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins, after those indexes hit record highs again Tuesday.

The U.S. stock indexes are on a record-setting run that has the bulls very comfortable at present. However, the indexes are now way overbought, technically, and due for sizable downside corrections at any moment.

Gold prices are trading near steady in early U.S. trading. Bullish technicals are being offset by the strong U.S. dollar index this week.

Global Markets

World Stock Markets Mostly Up; Heavy Slate Of U.S. Data On Deck Today

(Kitco News) – Asian and European stock markets were mostly higher Wednesday, following the lead of the U.S. stock indexes that set record highs on Tuesday. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session begins.

World equity markets were supported in part overnight by Federal Reserve Chair Janet Yellen on Tuesday giving an upbeat assessment of the world's major economies

Global Markets

Gold Up, World Equity Markets Under Pressure, From Trump Uncertainty

(Kitco News) – World stock markets were mostly weaker and tried to stabilize Tuesday after the sharp sell-off in U.S. and European equities on Monday. Asian stock markets followed on Tuesday by trading lower. Markets in China are still closed for the Lunar New Year holiday. U.S. stock indexes are pointed toward weaker openings when the New York day session begins.

Gold prices are posting good gains Tuesday morning, on safe-haven demand amid the world stock market selling pressure.

Global Markets

Trump Press Conference Grabbing Attention Of World Marketplace

Asian stock markets were mostly higher overnight, supported in part by some recent positive economic data coming out of China, the world's second-largest economy. European stock markets were mostly lower Wednesday. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins.

Gold prices are firmer in early morning trading Wednesday, and are at a six-week high.

Global Markets

Global Stock Markets Mixed To Weaker; Trump Press Conference In Focus

The world marketplace is anxiously awaiting President-Elect Donald Trump's first press conference since his election, on Wednesday. Already, Trump's Twitter tweets have unsettled stocks and stock sectors. The marketplace perceives that Trump wants better relations with Russia, but may take a hard line on relations with China.

Gold prices are near steady in early U.S. trading and hovering near Monday's five-week high.

Global Markets

World Markets Subdued On Last Trading Day Before Christmas Holiday

Global stock markets were mixed in very quiet, pre-holiday trading Friday, as the Christmas holiday is on Sunday. Most markets are closed on Monday in observance of Christmas. Some markets close early today. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session begins.

Gold prices are slightly higher on short covering and bargain hunting following recent selling pressure.

Global Markets

World Markets Quieter Wednesday As Christmas Holiday Approaches

European stock markets were narrowly mixed Wednesday as markets activity begins to wind down ahead of the Christmas holiday on Sunday. Asian stock markets were firmer, led by China's Shanghai stock index that posted solid gains. A big China securities company on Tuesday said it would honor the fraudulent bond activities from two of its traders, and that calmed nervous investors.

Many world stock markets are near record or multi-year highs and a pause from recent rallies is not surprising.

Global Markets

Terror Attacks In Europe Not Having Major Impact On World Marketplace

Global stock markets were mostly firmer overnight and U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins Tuesday. The world marketplace has not shown big reactions to violence in Europe Monday that included the assassination of Russia's ambassador to Turkey and terror attacks in Berlin and Zurich that left over a dozen people dead. However, the European stock markets did see buying interest limited on the terror attacks, while the Euro currency dropped to a 13-year low overnight, due in part to the attacks.

Many world stock markets are trading near multi-year and/or record highs and it would not be surprising to see those stock indexes at least pause

Global Markets

World Stock Markets Mostly Up Tuesday; FOMC Meeting Set To Begin

The marketplace is awaiting what is arguably the most important economic event of the month: the U.S. Federal Reserve FOMC meeting, which begins Tuesday morning and ends Wednesday afternoon with a statement. Most believe the Fed will raise interest rates for the first time in a year.

In fact, the Fed funds futures market shows a 100% chance the Fed will raise U.S. interest rates this week. With a Fed rate hike so fully expected, markets have mostly factored it into their price structures.

Thus, don't be surprised to see many markets show a "buy the rumor, sell the fact" scenario following the actual announcement of the Fed rate hike.

Crude Oil Prices Sharply Up As OPEC, Non-OPEC Producers Agree to Further Reduce Output

The feature in the marketplace to start the trading week is sharply higher crude oil prices. Nymex crude oil futures prices hit a 16-month high of $54.51 overnight and are up by over $2.00 a barrel in early U.S. trading.

OPEC and non-OPEC oil producers on Saturday came to an agreement to cut their collective oil production by just over a half-million barrels a day, which does not include the 1.2 million barrels a day that OPEC already agreed to cut in September. Reports said the combined cuts represent about 2% of the world oil supply.

World stock markets were mostly weaker Monday, on corrective, profit-taking pullbacks from recent solid price gains that put several world stock indexes at multi-year or even record highs.