U.S. Morning Call: Global stocks rally on China policy talks
Wednesday, December 05, 2012 - 02:35
Dec 5 - Shares in Europe and China resumed a recent sharp rally after comments from China's new leader boosted global growth expectations, while U.S. stock index futures signal a higher open.
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Pick your boarding call for Wednesday US equity futures point to game the open on Wall Street as President Obama is set to meet with members of the business roundtable. Isn't it a fiscal -- debate. European and Asian stocks seeing a sharp rally today after Communist Party chief. She didn't -- said the country will keep fine tuning its economic policies it to 2013 to -- -- ground. Lots of data on a macro front this morning let's start with the ADP report which forecast that employers added 125000. Jobs in November. A drop from the 158000. Last month. Think story that eighty. You can read the full story on Reuters dot com. Moving on we've also got ISM services data out its hand. Economists expect to see slower growth in the sector with index falling to 53 point five in November. And we're expecting the latest read on factory orders to come in unchanged for October. Stocks are watching this morning looks getting added to the NASDAQ-100. The tech stock will become the newest component of the index next Wednesday and will replace justice. Which is -- its listing to New York Stock Exchange. Inclusion is good news for investors joining indexes generally considered to make the company more appealing to portfolio managers. Shares of FaceBook are treating it's higher in the premarket. We're also looking at Lockheed and Northrop Grumman today. The senate voted unanimously to approve a -- aging defense bill that authorizes 631. Point four billion dollars in funding for the military. The war in Afghanistan and nuclear weapons. From guns to groceries British chain Tesco may end its five year effort to break into the US grocery market. Now focus on its struggling home business and emerging markets the retailers and it has lodged a strategic review of its loss making US chain fresh and easy. And that could lead to the sale or closure of its 200 stores. Tesco has its share price to earnings ratio of nine point seven times well below its two leading competitors Wal-Mart and car for. That's it -- Wednesday morning call check out YouTube channel at Reuters dot com slash Reuters TV. Also follow us on Twitter for the latest headlines at Reuters Insider I'm Lisa Bernhard this is writers.
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