Top 5 Things to Know in The Market on Monday-
1. Mnuchin Holds Call with Bank CEOs, Will Convene ‘PPT’
U.S. Treasury Secretary Steve Mnuchin will convene a call with the president’s Working Group on Financial Markets, which includes Washington’s main stewards of the U.S. financial system and is sometimes referred to as the “Plunge Protection Team.”
2. U.S. Government Shutdown Could Extend into January
Market focus will stay attuned to developments out of Washington DC after the failure by the U.S. Congress and President Donald Trump to agree to a spending bill by midnight Saturday resulted in a partial U.S. government shutdown.
3. Trump vs. Powell
The advisers of President Donald Trump have discussed in recent days arranging a meeting between him and Federal Reserve Chairman Jerome Powell in the coming weeks.
That comes following reports on Saturday that Trump has privately discussed the possibility of firing Powell, whom he appointed.
4. U.S. Futures Point to A Christmas Eve Bounce
U.S. stock futures pointed to a higher open at the start of the holiday-shortened trading week, as investors geared up for Christmas.
U.S. stock and bond markets will see an abbreviated session on Monday, with equity markets ending at 1:00PM ET (18:00 GMT), while bond markets are set for a 2PM ET (19:00 GMT) close.
5. U.S. Dollar, Treasury Yields Slip
Away from equities, the U.S. dollar started the week on the backfoot, as sentiment in financial markets remained fragile on heightened worries over political instability in the United States.
The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.25% to 96.20.
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