1. Upset in Alabama: The dollar took a minor hit after Doug Jones became the first Democrat in 25 years to win a Senate seat in Alabama. Why it matters: The result shrinks the Republican majority in the Senate to a single seat, spelling trouble for President Trump's legislative agenda.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +11.00 | | +7.25 | | 0.00 | | +0.04% | | +0.11% | | 0.00% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -108.10 | | +22.22 | | +8.00 | | 22,758.07 | | 3,303.04 | | 7,508.41 | | -0.47% | | +0.68% | | +0.11% | | | |
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| | | Biggest Winners | | Western Digital Corp | +3.58% | | | | Merck & Co Inc | +1.77% | | | | Edison International | +1.71% | | | | Walt Disney Co | +1.13% | | | Biggest Losers | | Ford Motor Co | -1.35% | | | | Ralph Lauren Corp | -1.14% | | | | Iron Mountain Inc | -0.82% | | | | Netflix Inc | -0.38% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Alabama upset, Fed decision; Oil watch | By Ivana Kottasová
Wednesday, December 13th, 6:22am | | | | 1. Upset in Alabama: The dollar took a minor hit after Doug Jones became the first Democrat in 25 years to win a Senate seat in Alabama. | | | | Why it matters: The result shrinks the Republican majority in the Senate to a single seat, spelling trouble for President Trump's legislative agenda. | | | | "Significant fiscal easing just got harder and there's nothing here to help the dollar," said Kit Juckes, a strategist at Societe Generale. | | | | The result also has major implications for 2018. Democrats are now only two seats away from a majority in the Senate, an outcome that was unthinkable at the start of the year. | | | | 2. Fed's decision day: The U.S. Federal Reserve is widely expected to raise interest rates at its final meeting of the year. | | | | With the rate hike almost certain, investors will be looking for clues on 2018 and beyond during the final press conference by outgoing chair Janet Yellen. | | | | The central bank has only raised interest rates five times since the 2008 financial crisis. Two have come this year -- first in March and again in June. | | | | 2. Oil watch: Investors will check OPEC's monthly report to see if producers are sticking to output cuts designed to reduce a massive oil glut. | | | | OPEC and major producers including Russia agreed last month to extend the curbs by nine months until the end of 2018. | | | | U.S. crude futures were almost 1% higher at $57.70 per barrel. | | | | The Energy Information Administration will publish its weekly U.S. crude inventories report at 10:30 a.m. ET. | | | | 4. Global market overview: U.S. stock futures were flat. | | | | European markets opened lower, while Asian markets ended mixed. | | | | The Dow Jones industrial average and S&P 500 closed at new records on Tuesday. The Nasdaq shed 0.2%. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Companies and economics: Shares in Westfield, an Australian firm that operates 33 malls across the U.S., gained 14% in Sydney. | | | | It was purchased Tuesday by Unibail-Rodamco, a European property investment firm based in France. | | | | U.S. inflation data will be published at 8:30 a.m. | | | | Check out CNNMoney's Brexit jobs tracker | | | | U.K. unemployment was 4.3% in the three months ended October, matching its lowest level since 1975. | | | | However, there were 56,000 fewer people in work compared to the previous quarter. The number of people of working age who were classified as economically inactive also increased by 115,000. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Wednesday -- Fed decision and Yellen press conference; U.K. unemployment data; OPEC oil report
Thursday -- November U.S. retail sales; Bank of England rate decision; European Central Bank decision; Costco and Oracle earnings; IEA oil report; EU summit on Brexit
Friday -- EU Summit on Brexit | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $57.54 | +0.40 / +0.70% | | | Gold | $1,243.50 | +1.80 / +0.14% | | | 10-yr | 2.40% | +0.02 / +0.75% | | | Euro | $1.17 | +0.00 / +0.03% | | | |
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