US stock future indexes are up fractionally keeping alive the so-called Santa Claus rally. The rally is the tendency for stocks to rise over the last five trading sessions of December and the first two sessions of January.
WTI oil prices and the US dollar are rising in pre-market trading after Saudi Arabia's stock market dropped 3% in the first 15 minutes of trade this morning after the country unveiled a 2016 budget. Markets are expected to open higher.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.59% while France's CAC 40 is up 1.43% and London's FTSE 100 is up 0.42%.
FRANKFURT/HONG KONG (Reuters) - Deutsche Bank has agreed to sell its entire 20 percent stake in Beijing-based Hua Xia Bank to Chinese insurer PICC Property and Casualty Co - a deal worth up to $4 billion that will help lift its capital ratios.
BEIJING (Reuters) - Activity in China's manufacturing sector is expected to have contracted for a fifth straight month in December, a Reuters poll showed, likely consigning the world's second-largest economy to its slowest annual growth in a quarter of a century.
FRANKFURT (Reuters) - Adidas is not facing pressure from activist shareholders to offload more assets, like fitness brand Reebok, the German sporting goods group's finance chief told the Financial Times.
TOKYO (Reuters) - Toshiba Corp , reeling from a $1.3 billion accounting scandal, said it intends to ask for a new 300 billion yen ($2.49 billion) credit line by the end of January to fund a large-scale restructuring.
While the straws have been building on the camel's back of Apple's "no brainer" status over the past few months, today's news from DigiTimes appears to be the most damning yet on the 'peak Apple' phenomenon. Apple share are fading off early market highs as demand for iPhone 6s and iPhone 6s Plus appear to have slowed down recently, shipments of iPhone devices from production lines in the fourth quarter of 2015 are likely to be 5-10% lower than originally expected, according to Taiwan-based supply chain makers.
As DigiTimes reports,
The lowered factory shipments are in line with the latest forecasts of iPhone shipments in the consumer-end market, said the sources, adding that most market research firms have lowered overall iPhone device shipment estimates for the fourth quarter of 2015 to 72-75 million units, compared to 76-78 million units predicted earlier, indicated the sources.
Furthermore, overall iPhone shipments for the first quarter of 2016 have also been lowered to 52-56 million units from the previous estimate of 58-60 million units. The revised figures also represent a decline of 12-15% as compared to a year earlier.
Facing declining demand, some makers in the iPhone supply chain have reduced overtime shifts since November and could move the Lunar New Year holidays ahead of schedule, indicated the sources.
Foxconn Electronics' iPhone manufacturing plant in Zhengzhou, China has been indicated as one of the plants which are likely to shift their Lunar New Yea ...
Early on Saturday morning, the largest containership ever to visit North America arrived at the port of Los Angeles, marking the U.S. debut of a new breed of 'mega ships' that have until now only been seen in Asia and Europe. The 398-meter, 18,000 TEU capacity MV CMA CGM Benjamin Franklin arrived just after 4 a.m. at APM Terminals' Pier 400 at the port of Los Angeles after sailing from China according to a gcaptain report.
The ship, owned by France's CMA CGM Group, is one of a new type of Ultra Large Container Vessels (ULCVs) being built at shipyards in Asia by some of the largest carriers to further increase capacity and efficiency on the world's busiest shipping routes. The vessels are designed to carry more than 18,000, and in some cases even 19,000 twenty-foot equivalent containers, but until now they have been deployed exclusively on Asia to N. Europe trade routes.
The company owner says the ship will be deployed on the Pearl River Express, a regular service connecting some of China's main ports, including Xiamen, Nansha and Yantian, with Los Angeles and Oakland. The vessel will call at the port of Oakland next on December 31st before heading back across the Pacific to China.
But while one may question the need for such a massi ...
The federal government is trying to get taxpayers off the hook for billions of dollars of potential losses if another mortgage crisis arrives "and in the process, it is quietly giving birth to a new asset class.
Mexico's economy grew at a faster pace in the third quarter than in the second. As a result, the consensus 2015 gross domestic product (GDP) growth forecast was revised to 2.4 percent in November from 2.3 percent in October. The GDP forecast for 2016 stands at 2.7 percent. More recent data suggest that growth continued into the fourth quarter. Exports, employment and industrial production increased, but retail sales fell in September after five months of growth. Inflation is at historic lows, and the peso held steady in November.
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