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Economic Indicators Released Overnight
CPI in UK and EU was pretty much as expected, and higher than target. A deeply-divided FED will meet on 10 December for the final FOMC meeting of the year. Market expectations of a rate cut are fading fast and that's showing in market pricing.
FOMC minutes from the October meeting were released yesterday, adding to the gloom.
Specifically "In discussing the near-term course of monetary policy, participants expressed strongly differing views about what policy decision would most likely be appropriate at the Committee’s December meeting," the minutes showed.
Equites gave back gains, and Bitcoin hit the recent lows again.
US Equities
BLS Cancels October Jobs Report, Couldn’t Collect Some Data [Bloomberg]
S&P 500 gives up gains as Fed minutes dents rate cut hopes; Nvidia earnings loom [investing.com]
Fed members ’strongly’ differ on December rate cut as divide on policy deepens [investing.com]
Brazil's Banco Master Collapses: CEO Detained, Regulator Shuts Lender Down [Zerohedge]
US and Russian officials draft new peace plan for Ukraine [FT]
The selling continues and the support on the downtrend has been tagged. It’s a very steep drop and the market is now very oversold so let’s look forward to a short term bounce up to the midline at 97.2k. That would be a huge bounce! Read more
Up in Asia down in London and New York. The consolidation is moving along nicely now as price tries to stick the the trend channel. The only way is up and it’s just a matter of time until we break higher. Read more
YEN continues to weaken against the USD and price blasted off from trend support. Immediate target is midline at 157.80 and short-term support is at 155.00. Read more
Amidst the clutter of the S&P 500 and the NASDAQ, there is a very clear chart. The Dow Jones has broken uptrend support but not longer more solid support at 45,000. Read more
Dow Jones Industrial Average Daily
Some of these US numbers may not be released. See https://www.bls.gov/ for more details.