1. Energy trouble: Oil prices jumped Tuesday after a key pipeline in Europe was closed because of a leak. The problem with the 235-mile Forties Pipeline System, which carries almost 40% of the North Sea's oil and gas output, was discovered during an inspection on December 6.
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| Where U.S. stocks are heading | | Dow
Futures | | Nasdaq
Futures | | S&P
Futures | | +26.00 | | +1.00 | | +1.50 | | +0.11% | | +0.02% | | +0.06% | | | |
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| | | Japan | | China | | U.K. | | Nikkei 225 | | Shanghai Composite | | FTSE 100 | | -72.56 | | -41.38 | | +20.46 | | 22,866.17 | | 3,280.81 | | 7,473.94 | | -0.32% | | -1.25% | | +0.27% | | | |
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| | | Biggest Winners | | Align Technology Inc | +2.54% | | | | TechnipFMC PLC | +1.75% | | | | Marathon Oil Corp | +1.65% | | | | Coty Inc | +1.56% | | | Biggest Losers | | Carnival Corp | -1.00% | | | | Adobe Systems Inc | -0.99% | | | | Raytheon Co | -0.42% | | | | Apple Inc | -0.32% | | | | | | | |
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| News: What you need to know about the markets | | | | | | | Pipeline trouble; Climate summit; Fed meets | By Ivana Kottasová
Tuesday, December 12th, 5:10am | | | | 1. Energy trouble: Oil prices jumped Tuesday after a key pipeline in Europe was closed because of a leak. | | | | The problem with the 235-mile Forties Pipeline System, which carries almost 40% of the North Sea's oil and gas output, was discovered during an inspection on December 6. | | | | The crack has since extended, forcing owner INEOS to shut the pipeline for repairs. The company said only a small amount of oil seepage has been reported. | | | | Oil that flows through the North Sea pipeline helps set the price of Brent crude, which jumped 1% on Monday to a two-year high above $65 per barrel. | | | | U.S. crude futures, which are priced in Oklahoma, rose less than 1% to trade at $58.50. | | | | Meanwhile, an explosion was reported at a natural gas facility in Austria. Gas Connect Austria said that a serious fire resulted, but the plant was shut down in a controlled manner. | | | | 2. Climate moves: French President Emmanuel Macron is hosting a summit to mark the second anniversary of the Paris Climate agreement. | | | | Business leaders are watching the meeting closely -- nearly 1,200 companies have already promised to align their business plans with the Paris Agreement, according to We Mean Business coalition. | | | | It's not just Paris: Exxon Mobil said in a regulatory filing on Monday that it will start offering more details on how climate change could affect its business. | | | | 3. Yellen's long goodbye: The U.S. Federal Reserve starts its final two-day meeting of the year on Tuesday. | | | | It seems all but certain the central bank will raise its key interest rate one last time before chair Janet Yellen's planned departure. | | | | The Fed has already raised rates twice this year, first in March and again in June. | | | | 4. Global market overview: U.S. stock futures were flat. | | | | European markets were in positive territory. Stocks in Asia closed lower. | | | | The Dow Jones industrial average and S&P 500 hit new records on Monday after posting small gains. The Nasdaq closed 0.5% higher. | | | | Before the Bell newsletter: Key market news. In your inbox. Subscribe now! | | | | 5. Companies and economics: Comcast has dropped out of the running to buy a majority of 21st Century Fox, clearing the path for Disney to buy its prized entertainment and sports assets. | | | | European property investor Unibail-Rodamco said it has struck at $15.8 billion deal for Westfield Corporation, an Australian company that also operates malls in Europe and the U.S. | | | | Shares in Unibail-Rodamco dropped 3.3%. | | | | U.K. inflation hit 3.1% in November, according to the Office for National Statistics. That's up from 3% in October 2017, and the highest reading since March 2012. | | | | U.S. producer price data will be released at 9:15 a.m. ET. | | | | Download CNN MoneyStream for up-to-the-minute market data and news | | | | | | | |
| | | | | | Tuesday -- Fed meeting begins; U.K. inflation data
Wednesday -- Fed decision and Yellen press conference; U.K. unemployment data; OPEC oil report; U.S. inflation data
Thursday -- U.S. retail sales; Bank of England rate decision; European Central Bank decision; Costco and Oracle earnings; IEA oil report; EU summit; Black Friday retail resultsFriday -- EU Summit on Brexit | | | | | | | |
| Key Market Stats | Latest | Today's Change | | | Oil | $58.26 | +0.27 / +0.47% | | | Gold | $1,245.40 | -1.50 / -0.12% | | | 10-yr | 2.39% | +0.00 / +0.08% | | | Euro | $1.18 | -0.00 / -0.02% | | | |
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