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US Futures Have Pared Gains After Report of an Explosion in NYC

US futures have pared gains after report of an explosion in NYC.  A device explosion near a Times Square subway station left the purported suspect injured with no other reported injuries.  This week will be a big week for monetary policy with several central banks expected to make announcements.  On Wednesday, the Federal Reserve is expected to raise the federal funds rate for the third time this year by 25 basis points to a range of 1.25 to 1.5%.  Thursday will see key monetary policy updates from the European Central Bank, the Bank of England and the Swiss National Bank.  In economic data, October’s JOLTS report will be released at 10am.  The market is expecting job openings to increase to 6.1M openings in October.  Much anticipated Bitcoin futures began trading on Sunday on the CBOE, already triggering 2 trading halts due to 20+% surge in the first 24 hours of trading.  European shares are mixed with banks and materials stock leading to the upside.  Asian shares closed higher with casino stocks and banks leading the way higher.

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The US Added 228,000 jobs last month compared to estimates of 200,000

US futures are higher this morning on the back of a better than expected government jobs report.  According to the Bureau of Labor, the US added 228,000 jobs last month compared to estimates of 200,000 with the unemployment rate holding steady at 4.1%.  On the political front, Congress was able to pass a short term funding bill last night to avoid a government shutdown.  Markets in Asia closed higher led by the Nikkei on the back of a weaker yen and better than expected trade data out of China.  European markets are trading higher led by the banks after regulators agreed on a deal which is part of the Basel III capital levels.  Markets in Europe are also getting a boost from Brexit talks after a few key issues were agreed upon.  Later today, we will get data for consumer sentiment and wholesale trade.  

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US Futures are Mixed After Early Morning Gains Fade

US futures are mixed after early morning gains fade.  In a deviation from recent days, the DJIA and S&P500 are lower, while the Nasdaq is higher.  Weekly jobless claims fell by 2k to 236k, lower than expected, for the week ending 12/2.  European shares are mostly lower as basic materials lag.  Asian shares closed mixed as the Japanese Nikkei bounced back from yesterday’s rout.

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US Futures are Lower as Global Stocks Decline

US futures are lower as global stocks decline.  In the US, ADP reported private payrolls in November rose by 190K, slightly above estimates.  Third quarter non-farm productivity rose slightly less than expected to 3% q/q, while unit labor costs declined by 0.2%.  The decline in unit labor costs was a surprise as the market was expecting a rise of 0.3% for the quarter.  European shares are lower, led by auto, bank and technology shares.  Asian shares closed lower with Japan’s NIKKEI falling nearly 2%.

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US Futures are Higher After Yesterday's Mixed Session

US futures are higher after yesterday’s mixed session.  Yesterday, the US Supreme Court ruled that Trump’s travel ban from 6 mostly-Muslim countries can take effect immediately.  In economic data, the October trade deficit increased more than expected to $48.7B.  At 10:00am, the Institute for Supply Management will report their November non-manufacturing index update.  European shares are mixed as Brexit discussions stall due to Northern Ireland’s Democratic Unionist Party rejecting a special status for Northern Ireland upon the UK split.  Asian shares closed mostly lower as technology stocks lagged.

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