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Market Update - 22/11/16

Tuesday, November 22, 2016

Disclaimer: This is an informal commentary by one of our Market Analysts. It should not be taken as investment advice and is made available only on that basis.
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U.S. equities finished higher in Monday’s session as all three US stock indices touched a new all-time high elevated by a big uptick in oil prices. (S&P 500 +0.75%)-Energy (+2.20%), Materials (+1.25%), and Utilities (+1.09%) outperformed, while Real Estate (-0.17%), Healthcare (+0.30%), and Financials (+0.31%) lagged

President-elect Trump said he has ordered his transition team to draft a list of executive actions he could take “on day one to restore our laws and bring back our jobs.”

Trump poised to push NAFTA changes, to pressure Mexico on trade.

Japan: A magnitude 7.4 earthquake struck this morning, in the same region that was devastated by a tsunami that followed a larger 9.0 quake in 2011.

Japan’s 40 year yield rises to 0.745%, highest since Mar ’11.

4 NEW ALL TIME HIGHS IN US YESTERDAY (on the lightest volume in a month) - S&P, Dow, Nasdaq and Russell 2000 (12th daily rally in a row) all made new all time highs... the Trump rally continues... Oil closed +4%

Credit Suisse Said to Face Tax Probe Over Undeclared Accounts (Bloomberg)

All markets are open today.

Kingspan sees strong H1 numbers and outlook, trades +1.3%.

Asian markets are broadly higher with HK, Australia and Korea all up over 1%. JPY and KRW strengthened.

China’s insurance regulator said it will step up scrutiny of insurers’ stock-trading activities and punish violations, after barring a company from buying shares amid a probe into a former employee’s misbehaviour.

Oil trades a touch better at $49.06, GBP at .8514, still good after May speech yesterday, EURUSD at 1.0620.

Equities good, Eurostoxx +70 BPs.