What you need to know before the open – 12/12
Another low start for Europe this morning, after US stocks dropped to their lowest in four weeks on taper fears.
Asian markets too were subdued by the same uncertainty. The Nikkei share average dropped for a third day to a one-week low in trading today.
We do have some European data this morning, but the focus will probably stay on numbers from the US this afternoon.
Thanks to the stench of fear from the threat of early US QE tapering Europe's equity opening looks forlorn. FTSE -26, DAX -45, CAC -12
— David Buik (@truemagic68) December 12, 2013
Key events:
- EU European Central Bank monthly report at 9.00am.
- EU industrial production for October at 10.00am. Expected at 0.3 per cent from -0.5 per cent.
- US initial jobless claims (6 December) at 1.30pm. Expected at 320,000 from 298,000.
- US export and import price indices for November at 1.30pm. Export price index at -0.3 per cent from -0.5 per cent; import price index at -0.6 per cent from -0.7 per cent.
- US retail sales for November at 1.30pm. Expected at 0.6 per cent from 0.4 per cent.