US Futures perking up
The global equity markets are trading higher. December S&P Futures are up about 10 points to trade around the 3975 area, while the March contract is quoted around 4008. The contract rollover activity ramps up today. The December contract saw a modest dip down to the low of 3960.25 before buyers stepped in. A move higher peaked at 3982.75 at the beginning of the European trade.
In Asia, China rose 0.3%, while Japan closed up over 1%.Inline inflation data and the continued loosening of COVID-related curbs supported the Shanghai Composite. China's November CPI rose 1.6% year-over-year, down from 2.1% prior. In Japan, the Nikkei followed Wall Street higher. Semiconductors rallied hard, with names such as Tokyo Electron, Advantest and Screen Holdings surging 3-6%.
In Europe, the major bourses are modestly higher on a day when the economic calendar is light. Despite crude oil trading higher by 1%, energy stocks have been a drag, with Shell, BP and TotalEnergies shedding 1-2%.
Market Updates
S&P Futures vs Fair Value: +10.0
10 yr Note: 3.85%
USD/JPY: 136.11 -0.59
EUR/USD: 1.0558 +0.0003
Europe: FTSE: +0.2% DAX: +0.3% CAC: +0.1%
Asia: Hang Seng: +2.3% Shanghai: +0.3% Nikkei: +1.2%
Gold (1805.70 +4.20) Silver (23.25 +0.01) Crude (72.17 +0.71)
