13Dec2017 Pre-Market Commentary: Wall Street To Open Higher, Bank Shares Eye Record High As Fed Heads For 2017 Hat-trick, Doug Jones Wins And US Dollar Recovered Most Of Its Losses Against The Yen

Here is the current market situation from CNN Money

European markets are mixed. The FTSE 100 is higher by 0.09%, while the CAC 40 is leading the DAX lower. They are down 0.25% and 0.09% respectively.

Shares eye record high as Fed heads for 2017 hat-trick

LONDON (Reuters) – Global shares were within a whisker of another record high on Wednesday as markets traded on expectations of a third U.S. interest rate hike this year and waited to hear from the Federal Reserve on how many more are likely in 2018.

WTO struggles to hone global trade vision after U.S. turnabout

BUENOS AIRES (Reuters) – Trade ministers looked set to wrap up their biennial World Trade Organization (WTO) meeting without having reached a single agreement on Wednesday, still reeling from criticism brought by the United States, once the WTO’s driving force.

Trump to make final tax push as Republican negotiators near deal

WASHINGTON (Reuters) – U.S. President Donald Trump will make a final push on Wednesday to shepherd a Republican tax overhaul over the finish line, hosting congressional negotiators for lunch before delivering a speech in which he will make his closing arguments for the legislation.

Airbus leadership under fire as crisis deepens

TOULOUSE/PARIS (Reuters) – Airbus is engulfed in a fresh bout of speculation over the future of senior managers as corruption probes rattle the aerospace company and add fuel to a long-running clash of egos at the top, people familiar with the group said.

Sports Direct shareholders veto payment to brother of founder Mike Ashley

LONDON (Reuters) – Independent shareholders in Sports Direct on Wednesday voted against paying the brother of founder Mike Ashley 11 million pounds ($14.7 million) for work as an IT expert.

With rate hike in the bag, Fed may hint at Trump effect on economy

WASHINGTON (Reuters) – The Federal Reserve is widely expected to raise interest rates on Wednesday, but, more significantly, it may give its strongest hint yet on how the Trump administration’s tax overhaul could affect the U.S. economy.

Futures flat ahead of Fed’s decision on interest rate hike

(Reuters) – U.S. stocks futures pointed to a flat open for Wall Street on Wednesday as investors awaited the Federal Reserve’s announcement on benchmark interest rate and assessed the Democratic win in the Alabama Senate election.

Westfield $16 billion Unibail-Rodamco sale rings the bell on retail’s next chapter

SYDNEY/MELBOURNE (Reuters) – For investors in Australia’s Westfield Corp , its $16 billion sale to European property giant Unibail-Rodamco may mark a turning point for a mall industry under pressure to reinvent itself amid fierce online competition.

VW bank expects profit rise in 2017 despite diesel scandal

FRANKFURT (Reuters) – The financial arm of German carmaker Volkswagen said on Wednesday that it expects a rise in operating profit in 2017, despite a diesel scandal that has rocked the industry.

CNN’s Anderson Cooper Blames “Pathetic Loser Trump” Tweet On Hackers

Hours after Doug Jones defeated Roy Moore in Alabama last night, and following President Trump’s ‘congratulations’ tweet, CNN’s Anderson Cooper appeared to respond in a manner most un-becoming – calling the president a “pathetic loser”…

Social media lit up – as one would expect – but Cooper has now clarified that ‘his’ outburst was not of his doing…

just woke up to find out someone gained access to my twitter account. i have not sent a tweet in days or replied to any tweets. We are looking into how this happened.

— Anderson Cooper (@andersoncooper) December 13, 2017

Echoing CNN’s official statement on the matter…

This morning someone gained access to the handle @andersoncooper and replied to POTUS. We’re working with Twitter to secure the account.

— CNN Communications (@CNNPR) December 13, 2017

We are sure the hackers involved were Russian… when will there be a probe?

…

“Trump Should Go F Himself” – Texts Leak From FBI Agents On Russia Probe, Hillary Emails Investigation

Over 10,000 text messages sent between two top FBI investigators – one of whom led both the Clinton email investigation and the early Trump-Russia probe, have been turned over to Congress Tuesday evening and promptly leaked to the press. The profanity-laced messages reveal a deep hatred for Trump between veteran agent Peter Strzok and FBI attorney Lisa Page, who were having an extramarital affair while working together on the Clinton email investigation when the texts were exchanged. Strzok and Page were fired from Robert Mueller’s special counsel in mid-August over the messages, yet the reason was not revealed until last month. Strzok notably changed the wording of then-FBI Director James Comey’s statement on Clinton’s mishandling of classified information from “grossly negligent” to “extremely careless.”

Peter Strzok and Lisa Page

The leaked texts leave no doubt that Muller’s probe has been tainted from the beginning. In one exchange obtained by Fox News sent on March 4th, 2016 – right around the time Trump emerged as a serious threat in the GOP primary race, Page texted Strzok “God, Trump is a loathsome human,” to which Strzok responded “Yet he many[win]” Strzok responded, adding “Good for Hillary.”

Later that day, Strzok texted Page, “OMG [Trump’s] an idiot” to which Page replied “He’s awful.” Strzok then texted Page “America will get what the voting public deserves

UK Stagflation Risk As Inflation Hits 3.1% and House Prices Fall

UK Stagflation Risk As Inflation Hits 3.1% and House Prices Fall

– UK inflation hits 3.1%, highest in nearly six years
– UK earnings flat – households are still suffering falling real wages
– Stagflation risk as food and drink prices jumped 4.1% in 12 months
– UK house prices fall two-months in a row, down 0.5% in October
– Real stagflation risk now, inflation high and growth slowing
– Savings continue to be eaten by inflation

It was just two years ago that Mark Carney was writing his fourth letter to the British Chancellor, explaining why the country was in a deflationary slump. Even then households were feeling the pinch, despite what officials reported.

Since then Brits have become increasingly vindic …

Roy Moore Refuses To Concede: “We’ve Got To Go By The Rules”

With 100% of precincts reporting, Doug Jones has officially defeated Republican Roy Moore in what was undoubtedly one of the most controversial special elections in modern history. But unsurprisingly, given the obstinance he displayed by steadfastly refusing to step aside following allegations of inappropriate sexual contact with teenagers, managing to infurate conservative commentator Matt Drudge in the process…

Luther Strange would have won in a landslide… Just too much crazy in nerve racking times. There IS a limit! pic.twitter.com/vketz7G1OR

— MATT DRUDGE (@DRUDGE) December 13, 2017

… Moore is taking it one final step too far, and is refusing to concede.

In a late-night speech to his supporters (not a concession speech, mind you), Moore said he realizes that “when the vote is that close, it’s not over,” later saying that “it’s going to take some time” before the final outcome is determined.

Moore suggested that the state’s “recount provision” – which allows for a recount when the margin between the two leading candidates is less than half a percentage point – could still tilt the race in his favor.

“We’ve still got to go by the rules about this recount provision. The Secretary of State has explained it to us, and we’re expecting that reporters will go up there and find out what’s going on.”

Tired of Pricey FANGs? Try Shenzhen

“Old economy” stocks are booming this year in China, which has sucked cash out of the tech- and consumer-focused Shenzhen index. Now looks like a good time to get in before this trade reverses.

Electronic Arts Needs the Force to Awaken Again

Walt Disney isn’t the only company with a lot riding on the new Star Wars movie this week. Electronic Arts could really use a boost from the Force.

Why Westfield’s Storied Shopping Mall Family Is Selling Out

Europe’s largest property company is making a $25 billion bet that America’s megamalls have a bright future

Bond Report: Treasury yields extend climb ahead of final Fed decision of 2017

Treasury yields rise on Wednesday ahead of a key decision of the Federal Reserve that is anticipated to result in the third interest-rate increase of 2017.

Metals Stocks: Gold steadies at nearly 6-month low ahead of expected Fed rate hike

Gold futures gripped a narrow gain early Wednesday ahead of the Federal Reserve’s interest-rate decision, as investors eased up on what had been three declines in a row and the lowest price for the yellow metal in nearly six months.

The Wall Street Journal: Apple awards $390 million to Face ID tech company Finisar

Apple Inc. is awarding one of its key suppliers $390 million as part of its effort to fund domestic technology manufacturers, the tech giant said Wednesday.