Major central banks are going to find difficult to combat an economic downturn as they are running out of monetary policy tools, Bank of England Governor Mark Carney said in an interview with the Financial Times. “It’s generally true that there’s much less ammunition for all the major central banks than they previously had and I’m of the opinion that this situation will persist for some time,” the outgoing governor warmed. The euro is falling against the dollar as German manufacturing orders unexpectedly fell 1.3% in November, signaling that the downturn in the country’s industrial sector continues. The U.S. trade deficit narrowed in November for the third straight month, dropping to its lowest level in three years as the rate of imports dropped and exports picked up. Traders in the futures market are beginning to embrace the Federal Reserve’s proposed replacement for the troubled London interbank offered rate. The Federal Reserve Bank of New York added nearly $100 billion in short-term liquidity to financial markets.
At 08:15 am ET ADP Employment Report.
At 10:30 am ET The EIA oil stockpiles report
At 10:00 am ET Factory Orders & the ISM non manufacturing Index.
At 10:00 am ET Federal Reserve Governor Lael Brainard
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Sector Update: Headlines to Note-
WBA .ERN Trading lower by 4% after earning miss. Affirms 2020 guidance.
M P/SGN Announced plans to close more than a dozen stores early this year.
KSS .REC Cowen lowers its price target to $53 from $56.
VSTM P/SGN Announced licensing agreement with Chugai Pharma
AVXL P/SGN Receive U.S. Patent for its neurodegenerative treatment.
MBOT P/SGN Receives intention to grant from EU Patent Office covering its self-cleaning shunt
BA P/SGN Down 1.76% this morning due to another BA aircraft crash.
MSFT .MA Morgan Stanley lifts its price target to $189 from $157.
IBM P/SGN Announced the expansion of IBM Q Network, which now includes over 100 organizations
SPY P/SGN President Trump to make an announcement this morning on the Iranian tensions.
BBBY .ERN To release earnings this afternoon. A move of $2.15 is expected.
LNN .ERN To release earnings tomorrow morning. A move of $7.25 is expected.
Upcoming Earnings and yesterdays near term option volumes