US Futures are Higher Ahead of December Fed Minutes

US Futures are higher ahead of December Fed minutes.  At 2pm, the Fed will release the minutes from the December meeting in which the Fed raised rates by 0.25%.  The market will be looking for any changes to the economic and inflation outlook to gauge future moves.  At 10am the market will get data on construction spending from November and the December ISM manufacturing index.  European shares are mostly higher with retail and technology shares leading higher.  New financial reform from the EU will go into effect today, Europe’s Market in Financial Instruments Directive (MiFID II).  MiFID II will increase transparency across financial markets and strengthen financial protection.  Asian shares closed higher with the exception of Japan which is still closed for holiday.  Technology and materials stocks led higher.

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