Stansberry Research

Thursday Morning Market Preview, Calendars

Stansberry NewsWire

Morning Market Preview:

S&P futures are higher, up 16 to 17 points, as…

  • Federal health officials announced that the U.S. will require travelers from China to submit a negative COVID-19 test beginning January 5, as cases surge in Asia.
  • Investors look ahead to the Bureau of Labor Statistics’ latest jobless claims data later this morning for an indication of the strength of the labor market.
  • The Federal Reserve Bank of Richmond’s composite manufacturing index for December showed modest improvement moving back into positive territory as supply chain pressures eased.
  • The National Bureau of Economic Research concludes in a new study that U.S. immigrants generate 36% of the nation’s innovation.

European markets rose as…

  • European Central Bank Governing Council Gediminas Simkus says that the eurozone’s inflation has yet to peak with energy pricing pressures still in the pipeline.
  • Kremlin spokesperson Dmitry Peskov dismissed Ukraine’s proposed 10-point peace plan, asserting that already annexed regions must remain under Russian control in any peaceful resolution.
  • Ukrainian President Volodymyr Zelenskiy declared his country a "global leader" in a speech to parliament on Wednesday, telling lawmakers to remain united in the face of Russia's invasion and praising Ukrainians for helping the West "find itself again".

Asian markets were lower as…

  • South Korean industrial production for November showed the largest decline since the global financial crisis, with semiconductor production weighing on overall output as cooling overseas demand continues. 
  • China’s gross domestic product (“GDP”) growth is expected to accelerate to 4.7% in 2023 as the economy rebounds from pandemic restrictions, according to a survey of economists by Nikkei Asia.
  • Japanese Prime Minister Fumio Kishida is finalizing plans to visit Washington on Jan. 13 for a meeting with U.S. President Joe Biden to discuss Tokyo's defense buildup and efforts to strengthen the bilateral alliance.

And ahead of…

  • Continuing, Initial Jobless Claims (8:30 a.m.)
  • Energy Information Administration Weekly Petroleum Inventories (10:30 a.m.)

 Pre-Market Levels:

S&P +0.42%

Asia:

Japan's Nikkei -0.94%, Japan's TOPIX -0.79%, China's Shanghai Composite -0.44%, Hong Kong Hang Seng Index -0.79%, South Korea's KOSPI -1.93%, Taiwan's TSE -0.62%

Europe:

EuroStoxx 50 +0.21%, UK FTSE -0.11%, German DAX +0.21%, French CAC +0.12%, Italian MIB +0.28%, Spanish IBEX +0.11%            

Currencies:

Dollar -0.21%, Japanese Yen -0.55%, Euro +0.25%, British Pound +0.02%, Swiss Franc -0.48%, Chinese Yuan -0.23%

Risk:

VIX -0.27%

Bitcoin -0.01%

Ethereum +0.34%

Growth:

WTI Crude -1.42%

Brent Crude -1.15%

Nat Gas +1.34%

Copper -0.53%

Safety:

Gold -0.10%

Silver +1.05%

Sovereign Bonds:

U.S. Treasury 10-yr yield -0.9 bps at 3.88%

U.S. Treasury 2-yr yield +0.2 bps at 4.36%

German 10-yr yield +0.3 bps at 2.51%

French 10-yr yield -0.1 bps at 3.05%

Italian 10-yr yield -1.1 bps at 4.64%

Japanese 10-yr yield +1.2 bps at 0.46%

Earnings:

No earnings.

Calendar:

Korea – Industrial Production for November
U.K. – Nationwide House Price Index for December (2 a.m.)
Eurozone – M3-Money Supply for November (4 a.m.)
Continuing, Initial Jobless Claims (8:30 a.m.)
Energy Information Administration Weekly Petroleum Inventories (10:30 a.m.)