What you need to know before the US open – 12/02
Dovish comments from Janet Yellen and a 10.6 per cent increase in Chinese exports in January has buoyed European bourses, and will likely do the same to US counterparts.
Over on this side of the pond, Mark Carney had a stab at wriggling out of employment-based guidance – something Yellen did a better job at yesterday.
The S&P 500 has climbed nearly enough to wipe out the losses it's seen this year, and US government bonds have been pushed higher in early trading.
Markets have been rallying globally – the Hang Seng is leading the way at 1.47 per cent.
S&P 500 futures suggest it’ll open marginally higher today.
Key events:
- EU European Central Bank Draghi’s speech at 3.30pm.
- US monthly budget statement for January at 7.00pm. Expected at $-27.5bn from $53.2bn.