U.S. equities are trading firmer to start December
U.S. equities are trading firmer to start December despite the 17k rebound in jobless claims (due in part to Thanksgiving adjustments), the aftermath of the OPEC deal and some weakness emerging in Europe ahead of the Italian referendum this weekend. The Dow is 31-points firmer, S&P is 2-points higher and NASDAQ is up 2-points in pre-market trade. Thanks to the weak yen Japan's N-225 rallied 1.12%, while China's CSI 300 gained 0.76% in the wake of the 51.7 China PMI print. But Europe has cooled off, with the Euro Stoxx 50 0.7% lower and the Italian MIB flat. Oil prices are up another 2.5%, having already cracked the $50 level to trade through $50.50. Dollar General sank 5% after a drop in comp sales, while Guess and Express shed 13% after cutting full-year guidance. Fedspeak is still on tap from Mester and Kaplan, along with updates on ISM and construction.