U.S Economic Data and the U.S Markets to Provide Direction


The Majors

It was another bullish day for the European majors on Wednesday. The CAC40 rallied by 1.24%, with the DAX30 and the EuroStoxx600 rising by 0.95% and by 0.92% respectively.

Mid-week, investors continued to brush aside Omicron news updates, with tech stocks on the move. On the economic data front, upward revisions to U.S GDP numbers and a pickup in U.S consumer confidence were market positives late in the session.

Omicron news continued to be market negative, however. News of governments across the world imposing measures to curb the spread of the virus limited the upside on the day.

The Stats

There no major stats from the Eurozone to provide the majors with direction.

From the U.S

Finalized GDP numbers were in focus. In the 3rd quarter, the U.S economy expanded by 2.3%, which was up from a 2nd estimate 2.1%. The economy had expanded by 6.7% in the 2nd quarter.

The CB Consumer Confidence Index rose unexpectedly from 111.9 to 115.8. Economists…

Read more…