Thursday, January 4–Jim Wyckoff’s Morning Markets Report
World stock markets were mostly firmer overnight. There was some upbeat economic data from China released Thursday, to help boost world equity markets. U.S. stock indexes are pointed toward higher openings when the New York day session begins. The U.S. indexes hit new record highs overnight.
Wednesday afternoon’s release of the minutes of the last Federal Open Market Committee (FOMC) meeting held on Dec. 12-13 saw the marketplace deem the minutes as favoring the hawkish camp on U.S. monetary policy. The FOMC members are still seeking a gradual rise in U.S. interest rates, with some members saying the new U.S. tax policy could raise GDP.