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Alabama upset, Fed decision; Oil watch

1. Upset in Alabama: The dollar took a minor hit after Doug Jones became the first Democrat in 25 ye...

Posted: Dec 13, 2017 11:22 AM
Updated: Dec 13, 2017 11:22 AM

1. Upset in Alabama: The dollar took a minor hit after Doug Jones became the first Democrat in 25 years to win a Senate seat in Alabama.

Why it matters: The result shrinks the Republican majority in the Senate to a single seat, spelling trouble for President Trump's legislative agenda.

"Significant fiscal easing just got harder and there's nothing here to help the dollar," said Kit Juckes, a strategist at Societe Generale.

The result also has major implications for 2018. Democrats are now only two seats away from a majority in the Senate, an outcome that was unthinkable at the start of the year.

2. Fed's decision day: The U.S. Federal Reserve is widely expected to raise interest rates at its final meeting of the year.

With the rate hike almost certain, investors will be looking for clues on 2018 and beyond during the final press conference by outgoing chair Janet Yellen.

The central bank has only raised interest rates five times since the 2008 financial crisis. Two have come this year -- first in March and again in June.

2. Oil watch: Investors will check OPEC's monthly report to see if producers are sticking to output cuts designed to reduce a massive oil glut.

OPEC and major producers including Russia agreed last month to extend the curbs by nine months until the end of 2018.

U.S. crude futures were almost 1% higher at $57.70 per barrel.

The Energy Information Administration will publish its weekly U.S. crude inventories report at 10:30 a.m. ET.

4. Global market overview: U.S. stock futures were flat.

European markets opened lower, while Asian markets ended mixed.

The Dow Jones industrial average and S&P 500 closed at new records on Tuesday. The Nasdaq shed 0.2%.

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5. Companies and economics: Shares in Westfield, an Australian firm that operates 33 malls across the U.S., gained 14% in Sydney.

It was purchased Tuesday by Unibail-Rodamco, a European property investment firm based in France.

U.S. inflation data will be published at 8:30 a.m.

U.K. unemployment was 4.3% in the three months ended October, matching its lowest level since 1975.

However, there were 56,000 fewer people in work compared to the previous quarter. The number of people of working age who were classified as economically inactive also increased by 115,000.

Download CNN MoneyStream for up-to-the-minute market data and news

6. Coming this week:

Wednesday -- Fed decision and Yellen press conference; U.K. unemployment data; OPEC oil report
Thursday -- November U.S. retail sales; Bank of England rate decision; European Central Bank decision; Costco and Oracle earnings; IEA oil report; EU summit on Brexit
Friday -- EU Summit on Brexit

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Alabama Coronavirus Cases

Confirmed Cases: 49892

Reported Deaths: 1077
CountyConfirmedDeaths
Jefferson6030162
Mobile4418137
Montgomery4339109
Tuscaloosa254448
Madison19078
Marshall186611
Shelby150924
Lee149437
Morgan12205
Baldwin111410
Walker105127
Elmore98919
Dallas9639
Franklin92216
Etowah88214
DeKalb8416
Chambers65727
Russell6570
Autauga65313
Butler64328
Tallapoosa61669
Unassigned58626
Limestone5741
Houston5526
Cullman5395
Lauderdale5376
Lowndes48022
St. Clair4692
Colbert4656
Pike4595
Escambia4528
Calhoun4365
Coffee4074
Covington39911
Jackson3742
Bullock37010
Barbour3672
Dale3621
Talladega3497
Hale33722
Marengo33011
Wilcox2968
Clarke2946
Winston2893
Chilton2872
Sumter28512
Blount2731
Pickens2556
Monroe2492
Marion24514
Randolph2449
Conecuh2277
Perry2091
Bibb2081
Macon2069
Choctaw20212
Greene1928
Henry1433
Crenshaw1273
Washington1277
Lawrence1170
Cherokee1127
Geneva920
Lamar811
Fayette781
Clay742
Coosa621
Cleburne411
Out of AL00

Tennessee Coronavirus Cases

Confirmed Cases: 57591

Reported Deaths: 710
CountyConfirmedDeaths
Shelby12842214
Davidson12549138
Rutherford332638
Hamilton308837
Sumner180256
Williamson159115
Trousdale15055
Knox14719
Out of TN125610
Wilson109917
Putnam9897
Bradley8894
Robertson88213
Sevier8633
Unassigned8372
Lake6970
Tipton6746
Montgomery6587
Bledsoe6251
Bedford5959
Macon5466
Hamblen4224
Maury4203
Hardeman3814
Fayette3463
Madison3402
Loudon3081
Rhea2940
Blount2803
Dyer2743
McMinn25718
Cheatham2522
Dickson2430
Washington2120
Lawrence2026
Cumberland1964
Anderson1782
Sullivan1782
Lauderdale1723
Gibson1581
Jefferson1571
Monroe1466
Smith1392
Coffee1340
Cocke1260
Greene1232
Hardin1207
Obion1182
Haywood1112
Warren1060
Franklin1043
Marshall1042
Wayne990
Hickman980
McNairy911
Marion904
Giles801
Lincoln800
White803
Hawkins792
Carter771
DeKalb760
Roane750
Weakley691
Overton681
Campbell651
Grundy652
Henderson620
Claiborne610
Unicoi560
Chester530
Carroll511
Polk510
Grainger500
Crockett483
Henry480
Cannon450
Johnson440
Sequatchie430
Jackson410
Humphreys382
Meigs350
Perry350
Morgan291
Decatur280
Stewart260
Fentress250
Scott220
Union200
Houston190
Clay180
Moore170
Benton151
Hancock100
Lewis100
Pickett70
Van Buren70

 

 

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