Markets Overview
- ASX SPI 200 futures up 0.8% to 7,277.00
- Dow Average up 1.9% to 34,680.17
- Aussie down 0.2% to 0.7088 per US$
- U.S. 10-year yield rose 4.5bps to 1.4494%
- Australia 3-year bond yield rose 0.5bps to 0.93%
- Australia 10-year bond yield fell 5bps to 1.68%
- Gold spot down 0.9% to $1,766.30
- Brent futures up 2.0% to $70.24/bbl
Economic Events
- 9am: (AU) Nov. Markit Australia PMI Services, prior 55.0
- 9am: (AU) Nov. Markit Australia PMI Composite, prior 55.0
- 11am: (AU) Australia to Sell A$1.5 Billion 2.75% 2024 Bonds
Stocks notched their biggest advance since October as dip buyers scooped up some of the hardest-hit shares during a two-day selloff. Treasuries retreated. Applications for U.S. state unemployment benefits rose by less than forecast last week, suggesting additional progress in the job market. The figures come a day before the monthly employment report, which is projected to show payrolls increased by 548,000 in November.
Other News
While a visit to Ikea may feel like an eternity for some, 31 people in Northern Denmark ended up spending a night in the furniture warehouse after a snowstorm closed the local roads and halted public transportation.
Six customers and 25 staffers at Ikea in Aalborg, Denmark were served store classics like cinnamon rolls and watched Christmas shows and sport on the store’s many televisions, while waiting to see if the weather was improving. The bunch ended up having to each pick one of the many beds available in the warehouse’s showroom.
“It was better than sleeping in the car,” Michelle Barrett told Danish Broadcaster DR Thursday morning. “We have mostly just been laughing about the situation, as we most likely will not experience it again.”
