Stock futures are unchanged to fractionally higher and likely to
be range-bound today with trading stifled by holidays in the U.S.
and Europe as well as a dearth of economic news. Last week's benign
jobs report (skewed by holiday-related hiring) coupled with a
deluge of well-received IPOs and strong earnings should encourage
more modest gains today.
European markets were underpinned by strong Chinese industrial
production which increased a much better than expected 10.3% in
October, while Japan's Nikkei closed higher thanks to a cheaper
yen, offsetting the decline in Japan's business confidence index.
Global equity markets are following the lead of the U.S. and are
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