US equities recovered slightly from overnight lows in the wake of the still positive final 3.4% print on Q3 GDP, which contrasted the global slowdown, while durable goods were also firmer.
Yet this is in contrast to the sea of red in Asia and again in Europe after the US Defence Chief Mattis resignation and potentially “very long” shutdown (President Trump) over the border wall funding if no deal is struck by midnight tonight.
Thinning pre-holiday conditions, along with quadruple witching settlement today on stocks, futures, options and options on futures should keep investors jittery. The blue chip indices are now comfortably back in the green, with the USA30 indicating as much as +175 points, while USA100 is lagging slightly. Europe is mixed, above earlier lows and Asia saw the Nikkei sink another 1.1%
Trump will meet with Senate Republicans at the White House from 3:30 GMT over the government shutdown, according to a Washington Post tweet. This followed an earlier Trump tweet in which he encouraged Senate Leader Mitchell McConnell to use the (so called) “nuclear option” to ram home their version of the budget with border security intact. High drama on the budget shutdown shouldn’t help Wall Street, though a breakthrough may provide a temporary fillip.
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