Equities Looking to Rebound as Dollar Weakens
Equities shed 1% yesterday on heightened debt concerns following a Moody’s report voicing worry over the growing debt in the UK and the US. One hour before the opening bell, equity futures are on the rebound with the benchmark S&P 500 up 5.25 points to 1,095.
Commodities are also on the rebound as the US reverses course after appreciating against a basket of currencies yesterday. WTI Crude oil is trading $1.06 higher at $73.68 per barrel and Spot Gold is up $13.50 to $1,141.90.
In fresh numbers already released, mortgage applications rose 8.5% in the week ending December 4th, according to MBA. Purchase and refinancing activity both rose in the week as the average rate for a 30-year mortgage fell three tenths to 4.79%, the lowest rate mid-May.
Key Events Today:
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