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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 12:22 PM
Updated: Dec 13, 2017 12:22 PM

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.

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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

Indiana Coronavirus Cases

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Confirmed Cases: 119066

Reported Deaths: 3612
CountyConfirmedDeaths
Marion21563768
Lake10745324
Elkhart6734112
St. Joseph6679115
Allen6364205
Hamilton4965109
Vanderburgh384231
Hendricks2779124
Monroe267137
Tippecanoe259013
Johnson2362125
Clark226757
Porter222447
Delaware201162
Cass19589
Vigo187928
Madison171475
LaPorte151941
Warrick140743
Floyd140464
Howard133964
Kosciusko127117
Bartholomew119357
Marshall102124
Dubois100919
Boone99746
Grant96636
Hancock94843
Noble92932
Henry82226
Jackson77610
Wayne77314
Morgan73940
Shelby68329
Daviess68129
Dearborn67928
LaGrange64711
Clinton63414
Harrison59824
Putnam59011
Gibson5455
Knox5379
Lawrence51829
Montgomery51321
DeKalb49111
White48814
Decatur46139
Miami4394
Greene42936
Fayette42314
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Steuben3977
Scott39311
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Sullivan33812
Jennings31712
Franklin31525
Clay3105
Ripley3108
Orange28724
Whitley2876
Carroll28013
Adams2773
Wabash2758
Starke2737
Washington2702
Wells2694
Spencer2683
Jefferson2523
Huntington2503
Fulton2462
Tipton22922
Randolph2238
Perry22213
Jay1920
Newton17411
Owen1711
Martin1690
Pike1691
Rush1584
Vermillion1320
Fountain1302
Blackford1223
Pulaski1141
Crawford1100
Parke1072
Brown1033
Benton860
Ohio797
Union790
Switzerland690
Warren411
Unassigned0227

Ohio Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 152907

Reported Deaths: 4783
CountyConfirmedDeaths
Franklin27283615
Cuyahoga17603657
Hamilton13340321
Montgomery7993166
Lucas7377364
Butler6151112
Summit5393252
Warren313649
Mahoning3114282
Marion311447
Stark2946175
Pickaway268445
Lorain234286
Delaware232821
Fairfield214654
Licking196063
Columbiana195180
Wood194273
Trumbull1921132
Clark185341
Clermont176123
Lake166051
Greene153634
Medina149339
Miami147652
Allen147372
Portage117766
Mercer113919
Erie96047
Tuscarawas94320
Wayne94268
Richland94119
Ross90426
Madison85512
Darke81144
Athens7402
Geauga73349
Hancock73110
Belmont72427
Lawrence68622
Shelby66910
Ashtabula66248
Auglaize62511
Putnam62523
Sandusky58720
Huron5727
Union5512
Scioto5287
Seneca49514
Ottawa47230
Muskingum4553
Preble44716
Holmes3999
Jefferson3424
Henry33715
Defiance33212
Champaign3143
Logan3143
Clinton30512
Perry3039
Fulton2991
Brown2923
Knox28915
Jackson2667
Washington26323
Morrow2622
Hardin25713
Ashland2484
Crawford2486
Coshocton23511
Fayette2346
Highland2313
Williams2163
Wyandot21512
Pike2040
Gallia19713
Meigs17711
Guernsey1748
Hocking1679
Carroll1527
Adams1374
Van Wert1283
Paulding1130
Monroe11018
Harrison643
Morgan500
Vinton483
Noble350
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