DAX Futures Morning Update on 07 January 2018

The DAX Futures is trading at 10,835.50 up with +0.35% percent or +38.00 point.The FTSE 100 Futures is trading at 6,791.00 up with +0.30% percent or +20.00 point. The CAC 40 Futures is trading at 4,751.50  up with +0.16% percent or +7.50 point.  The EURO Stoxx 50 Futures trading at 3,041.50 up with +0.16% percent or +5.00 point.

TODAY’S FACTORS AND EVENTS

The surprising headline print would suggest that there maybe some upside risk to this morning’s nonfarm payroll (NFP) headline print. Market expectations are looking for a print of +180K.

Yesterdays jobs reading was driven mainly by the service sector, while employment growth in the goods-producing sector also picked up, although that was mostly driven by construction.

With the market pricing out any Fed hikes for this year, will a strong NFP print this morning see dealers reversing their decision that the Fed is ready to abandon its rate hike plans when employment growth is still so strong?

As per usual, the market will be focusing on the U.S wage component. Average hourly earnings are expected to rise +0.3% in December after gaining +0.2% in November.

PREVIOUS DAY ACTIVITY

For the day Germany’s DAX closed at 10,767.69  up with +3.37% percent or +351.03 point.the FTSE 100 closed at 6,837.42 up with +2.16% percent or +144.76 point. France’s CAC  40 closed at 4,737.12  up with +2.72%percent or +125.64 point. 

WORLD MARKETS

For the day the Dow is trading at 23,433.16  up with  +3.29% percent or +746.94 point. The S&P 500 is trading at 2,531.94  up with +3.43% percent or +84.05 point. The Nasdaq Composite is trading at +6,738.86 up with +4.26% percent or +275.35 point.

In other parts of world, Japan’s Nikkei 225 is trading at 20,038.97 up with +2.44% percent or +477.01 point. Hong Kong’s Hang Seng is trading at 25,828.61  up with +0.79% percent or +202.58 point. China’s Shanghai Composite is trading at 2,533.09 up with +0.72% percent or  +18.22 point. India’s BSE Sensex is trading at 35,993.72 up with +0.84% percent or +298.62 point at 12:15 PM.