Page 23 - Philly Fed News Today

Equities: Equities continued higher yesterday but lost some steam during the afternoon. Yields continue to govern the direction of equities, and it was after yields began to rise that equities retreated. Europe rose a mild 0.4% and US 0.2%. Cyclicals beat defensives and value made a revenge vs growth. Staples and banks were in the top yesterday while utilities declined a little after the surge earlier this week. US futures are a tad lower this morning.

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Today's US data is not the kind that usually moves markets a lot: industrial production, NAHB housing market index and Philly Fed index for November.

Australian Dollar weakens broadly in Asian session, as Australian employment data and shifting global risk sentiment take center stage. The mixed nature of the latest Australian jobs report is causing a rethink among investors regarding RBA's next steps. Despite robust increase in overall employment numbers, a nuanced look reveals cracks in the job market's strength.

The USD Index (DXY), which measures the greenback vs. a bundle of its main competitors, trades with humble losses around the 104.50 region on Thursday.

The Federal Reserve Bank of Philadelphia released a report on Thursday showing a modest slowdown in the pace of contraction in regional manufacturing activity in the month of November.

The Euro (EUR) manages to generate some upside traction against the US Dollar (USD), motivating EUR/USD to attempt a tepid bounce to the 1.0860 zone on Thursday.

The Paris Bourse consolidated by -0.4% to 7,180 points, penalized in particular by the luxury goods sector, with Kering and LVMH at -2.3%. After ten sessions of gains out of 13 - thanks to renewed...

The New York Stock Exchange opened in the red on Thursday morning, with the great beauty of equities giving way to a less favorable climate, due in particular to the pessimism displayed by Walmart.At...

US dollar slides lower