Markets we're watching today
Today marks 35 years since Michael Jackson's album Thriller was released. It's the best-selling album of all time.
Here are these that could put a thrill into markets:
Yesterday's slump in bonds (and rise in yields) was overshadowed by moves elsewhere. The 10-year is flat today but hovering close to 2.40%. What's especially notable is that the move was global, in what could be a huge theme of 2018. If yields rise, it could unwind all of the yen's recent strength.
Bitcoin is back down to $9100. A break below $9000 would put it into the weekly gap and could trigger another massive run on the crypto currency. Levels of fear and greed in Bitcoin are ultra-high so volatility is assured.
3) Tech stocks
The FAANG stocks took a hit on Wednesday. The adage is that a bull market ends when the 'generals' are executed. Without doubt, the foursome of Facebook, Apple, Amazon, Netflix and Google are vulnerable to a pullback, and they won't be falling alone.
The OPEC decision is imminent. WTI crude is up 38-cents on hopes for a firm output cut extension, perhaps with freezes from Libya and Nigeria. If producers are left with some wiggle-room, then it could be an ugly day for oil. If not, the chart looks bullish.
Cable is up for the 11th time in 13 days. Negotiations may have entered a more-productive phase as hang ups about the exit bill have been resolved. The uptrend in the pair has been steady and resistance is minimal until +1.36.