What you need to know before the open – 06/12
US markets finished lower for the fifth day in a row yesterday, as data came in ahead of expectations and investors await nonfarm payrolls later today.
The surprise rise in US third quarter GDP, to 3.6 per cent, was well above forecasts. In Friday trading, Asian markets fell on the news. Better-than-expected data are fuelling concerns that the Fed will start to wind down its stimulus programme as early as next month.
UK stocks are expected to open slightly higher this morning.
Key events:
- UK consumer inflation expectations for November at 9.30am.
- German factory orders for October at 11.00am. Expected at -0.4 per cent from 3.3 per cent.
- US nonfarm payrolls for November ay 1.30pm. Expected at 180,000 from 204,000.
- US unemployment rate for November at 1.30pm. Expected at 7.2 per cent from 7.3 per cent.
- Reuters/Michigan consumer sentiment index for December at 2.55pm. Expected at 76.2 from 75.1.