US. equities were unchanged as investors mulled over better-than-expected GDP data and reports of a missile launch in North Korea.
Bank stocks climbed on hopes for tax-reform progress while technology shares came under pressure.
The Senate Budget Committee sent the tax bill to the full chamber which will be voted on as soon as this afternoon.
The Commerce Department released updated figures for third-quarter U.S. GDP, which showed the economy expanded at an annualized rate of 3.3%. The number matched estimates and surpassed an initial read of 3.0% growth.
Later on today the October personal income and spending data in the US will be released. This will also provide the latest reading for the Fed’s preferred inflation metric – the core PCE deflator.
European stocks advanced for a second day as investors looked beyond a rout in technology firms, which slumped with their U.S. counterparts amid concern about how they’ll fare under a proposed tax overhaul.
In the UK, the FTSE 100 fell 0.9% following gains in the currency. The U.K. benchmark typically has an inverse relationship with the pound as its members get 3/4 of their revenues from outside the country.
In Irish political news, the Taoiseach is expected to announce the appointment of Simon Coveney as Tánaiste in the Dáil today.
In economic news, this morning we’ll receive the November CPI report for the Euro area where the consensus expect a small pickup in the core to +1.0% yoy from +0.9%.
In Asia overnight, Japanese equities gained 0.6%, lead by gains in names such as Mitsubishi UFJ Financial Group Inc., which climbed 2.8%. Chinese equities retreated 0.6% following weakness in Tech names.