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Futures Unchanged In Thin Pre-Holiday Tape; Italian Bank Bailout Lifts European Shares

European stocks halted two days of declines, with the Stoxx 600 fractionally in the green and Italy’s bonds climbing after Monte Paschi requested a bailout and Italy pledged to provide support for its other ailing lenders. S&P futures were little changed among extremely thin volumes while Chinese stocks dropped amid concerns on higher borrowing costs. Oil slid, while gold advanced; bitcoin soared to multi-year highs, rising above $900.

Global Stocks Decline As Trading Volumes Collapse Ahead Of Monte Paschi Nationalization

European, Asian stocks and S&P futures all declined amid collapsing volumes, after the Wednesday drop in the S&P500, and after oil prices held losses amid an unexpected increase in supplies, as traders close out trades ahead of the holidays. Top overnight news include the imminent nationalization of Monte Paschi, the ongoing manhunt for the German Christmas market terrorist, Uber halting its self-driving car test in San Francisco, and the anti-China, anti-regulation moves in the Trump administration. 

Dow At All Time High, Dollar Dips, Europe Lower Dragged By Sliding Spanish, Italian Banks

Dow At All Time High, Dollar Dips, Europe Lower Dragged By Sliding Spanish, Italian Banks

US equity futures and Asian stocks were unchanged while European stocks declined after touching the highest level in almost a year, as Italian and Spanish banks dragged indexes lower. The dollar eased back from 14-year highs as bond yields fell on Wednesday and oil extended its advance in increasingly thin trading.

Global Stocks, Yields, Dollar Fade In Muted Volume As Traders Close Out 2016 Books

Global Stocks, Yields, Dollar Fade In Muted Volume As Traders Close Out 2016 Books

Global markets begin the last full week of trading of the year in subdued fashion, with U.S. equity futures rising 0.1%, to 2,258.5, European shares decline halting two straight weeks of gains, and Asian shares hitting a four-week low. The Dollar extends losses, yen and gold rise amid geopolitical concerns as the fallout from China's seizure of a U.S. continues to reverberate. Volumes are thinning before the December holiday season and end of the year, with trading in German bund futures about half the average for the past five days.

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