1. Dollar Slides On Disappointing NFP
The dollar slid almost half a percent against the euro and the yen in early Monday trading after a disappointing NFP report increased concerns that the Federal Reserve may stop raising interest rates. Meanwhile, the British pound hit an 11-week low against the euro as Prime Minister Theresa May’s deal to exit the European Union looks set to be rejected by parliament on Tuesday.*
2. Adobe Reporting Earnings On Dec 13, Here’s What To Expect…
Software giant Adobe (ADBE ) is due to report fiscal fourth-quarter earnings on December 13. The company reports after the market close with the consensus calling for earnings of $1.89 per share. It is worth noting that ADBE is up 38% on the year, the company has also grown earnings 45% annually over the last five years and analysts expect an additional growth of 33% per annum over the next five years. A strong earnings reports this Tuesday can cause the ADBE shares to rally on Wednesday.**
3. Brent Extends Gains After OPEC Agrees On Supply Cuts
Brent prices (CL_BRENT) rose on Monday, extending gains from Friday after the oil producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) as of January. Specifically, International Brent crude oil futures were at $61.95 per barrel at 08:00 GMT, up 28 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were last seen trading flat at $52.63 per barrel, up 2 cents, held back as the booming U.S. oil industry is not taking part in the announced cuts.***
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*Source: Investing Dec 12, 2018 2:48 AM ET
**Source: Forbes Dec 12, 2018 5:53 AM ET
***Source: CNBC Dec 12, 2018 03:07 AM ET
