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Daily Recap

It was another "Groundhog Day" in the stock market. Stocks traded slightly higher in Japan and China, Europe's STOXX600 index rose 1%, and so New York headed higher again today. Good news on China's industrial production and retail sector has people thinking that country may have turned the corner. And in the US, the NFIB's small business indicator had the best showing in 7 years, aided by the feeling that Trump policies will especially benefit that sector.

 

But apart from that, traders are keying in on the Fed's two day meeting. A 1/4% rate hike is seen as in the bag, but Wall Streeters are looking for signs that the Fed will pick up the pace next year, what with huge expected deficits on the way. The US dollar held tough today, its index up 0.12. Oil prices were about unchanged. So were bonds, with slight gains in longer maturities.

 

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