zerohedge.com / by Tyler Durden / Jan 11, 2017 6:35 AM
European and Asian shares, the dollar and crude all rose before President-elect Donald Trump’s first press conference since July at 11am on Wednesday, while S&P futures are little changed. Surging raw-materials stocks sent Asian stocks higher. Oil rebounds from the lowest level in a month.
In a session light on economic news, all eyes will be on Trump’s press conference scheduled for 11 am: while Trump’s election campaign calls for tax cuts and more infrastructure spending have boosted U.S. shares and the dollar, his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions. Trump has vowed to label China a currency manipulator on his first day in office on Jan. 20 and has threatened to slap huge tariffs on imports from China. Paul Ryan and top members of Trump’s transition team are discussing a controversial plan to tax imports. Economists have warned that protectionist measures could stifle international trade and hurt global growth. That brings Trump’s press conference into sharp focus.
So with that out of the way, here are the session highlights so far:
- Dollar pushes higher ahead of Trump press conference
- Oil prices edge higher ahead of U.S. inventory data