Evening Headlines
Bloomberg:
- Asia Stocks to Extend Gains After U.S. Tech Surge. Equity gauges in Australia and New Zealand advanced Wednesday, while futures for mainland China, South Korea and Taiwan all rose. Japanese markets remain closed and U.S. index futures were steady after the Nasdaq 100 Index climbed 1.8 percent, the biggest gain since Oct. 27. The S&P 500 Index also finished at an all-time high. Most European stock markets started the year in the red, as the euro’s strength weighed on exporters. Australia’s S&P/ASX 200 Index rose 0.2 percent as of 8:14 a.m. in Singapore, while New Zealand’s benchmark gauge climbed 0.3 percent. Futures on Seoul’s Kospi Index advanced 0.3 percent, while contracts for Taiwan’s main gauge were up 0.3 percent in the most recent trading.
- Airlines Join Banks in Dishing Out $1,000 Tax Bill Bonuses. Two U.S. airlines -- American and Southwest -- joined the tide of companies offering employees $1,000 bonuses to mark the tax overhaul Congress put in place for 2018. American Airlines Group Inc. and Southwest Airlines Co. announced the bonuses after the close of business Tuesday. AAON, U.S. Bancorp, Commerce Bancshares Inc.and Zions Bancorporation were among the companies touting similar moves.
Wall Street Journal:
MarketWatch.com:- Nasdaq Crests 7000 as Tech Giants Roar Into 2018. Tech-focused index jumped 28% in 2017, beating the Dow Jones Industrial Average’s 25% gain and S&P 500’s 19% rise.
- Iran’s Spending on Foreign Conflicts Raises Protesters’ Ire. Demonstrators resent Tehran’s outlays to support militant groups in Lebanon, Syria, Yemen, and Gaza.
- ‘White-Informed Civility’ Is the Latest Target in the Campus Wars. The rules of collegiate debate are also coming under attack as racist and patriarchal.
- Peak Commercial Real-Estate Prices Force Investors to Get Creative. Brookfield, Blackstone and others opt for eclectic approach involving many geographies, asset classes.
Business Insider:
Night Trading
Earnings of Note
Company/Estimate
10:00 am EST
- Asian equity indices are +.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 66.75 unch.
- Asia Pacific Sovereign CDS Index 12.75 -.25 basis point.
- Bloomberg Emerging Markets Currency Index 74.72 -.06%.
- S&P 500 futures +.11%.
- NASDAQ 100 futures +.13%.
Earnings of Note
Company/Estimate
- (CMC)/.18
- (NEOG)/.34
- (RMAX)/.51
- (RECN)/.24
- (RAD)/-.02
10:00 am EST
- Construction Spending MoM for November is estimated to rise +.5% versus a +1.4% gain in October.
- ISM Manufacturing for December is estimated at 58.2 versus 58.2 in November.
- ISM Prices Paid for December is estimated to fall to 64.5 versus 65.5 in November.
2:00 pm EST
- FOMC Dec. 13 Meeting Minutes.
- Wards Total Vehicle Sales for December are estimated to rise to 17.5M versus 17.35M in November.
- (UNG) 1-for-4
Other Potential Market Movers
- The German Unemployment Rate report, weekly US retail sales reports, weekly MBA Mortgage Applications report, (ZUMZ) Q4 update, (COST) monthly sales report and the (F) December Sales Conference Call could also impact trading today.
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