U.S. equities are somewhat firmer
U.S. equities are somewhat firmer in the wake of the ADP and personal income reports, along with the 7.7% surge in crude oil nearly to $49 bbl as OPEC gets down to brass tacks on a potential 1.4 M bbl output cut. Markets are also learning of two major financial appointments in the Trump cabinet, including Steve Mnuchin as Treasury Secretary and Wilbur Ross as Commerce Chief, who plan to bring their banking and finance bone fides to the program amid hopes for tax cuts, trade renegotiation and deregulation. The Dow is 43-points firmer, S&P gained 5-points and NASDAQ is 1-point lower in pre-market trade. Europe is mildly firmer, with the Euro Stoxx 50 0.4% higher, while Asia was mixed after the N-225 was flat and the China CSI 300 0.7% lower. There's plenty more on tap from Chicago PMI, pending home sales and the Fed's Beige Book all due later.