Economic Forecasting
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Rounding up this week's market action, with Amy Wu, RBC Capital Markets; Sameer Samana, Wells Fargo Advisors; Ryan Lewenza, TD; and Peter Sorrentino, Huntington Asset Advisors.
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*ECB holds rates at 0.75 pct, as expected. FRANKFURT, Jan 10- The euro zone economy will recover later in 2013 and there are already some signs of stabilisation, the European Central Bank said on Thursday after it unanimously held interest rates at a record low. "The economic weakness in the euro area is expected to extend into 2013," Mario Draghi told a news conference. "
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*ECB holds rates at 0.75 pct, as expected. FRANKFURT, Jan 10- The euro zone economy will recover later in 2013 and there are already some signs of stabilisation, the European Central Bank said on Thursday after it unanimously held interest rates at a record low. "The economic weakness in the euro area is expected to extend into 2013," Mario Draghi told a news conference. "
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FRANKFURT, Jan 10- The European Central Bank said on Thursday that recent economic surveys and indicators had shown signs of stabilising, suggesting an improved picture later in the year. "The economic weakness in the euro area is expected to extend into 2013," ECB President Mario Draghi said at a news conference. "
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FRANKFURT, Jan 10- The European Central Bank held its main interest rate at a record low of 0.75 percent on Thursday, putting off further policy easing while it assesses the economic outlook and waits for a bailout trigger to use its new bond-purchase programme.
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*Brent oil gains $1 a barrel on hopes of China demand. However, gains in Europe's equity markets were more limited with investors waiting for European Central Bank President Mario Draghi to give his views on the outlook for the recession-bound euro zone after a rate setting meeting later in the day.
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*Brent oil over $112 a barrel on hopes of China demand. However, gains in Europe's equity markets were more limited with investors waiting to hear what European Central Bank President Mario Draghi says about the outlook for the recession-bound euro zone after a policy meeting later in the day.
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BEIJING, Jan 10- China's exports are likely to grow by 8-9 percent this year, slightly faster than in 2012, while foreign direct investment inflows could be steady, a senior researcher with the Commerce Ministry's think-tank said on Thursday.
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*Trade balance $31.6 bln vs $19.7 bln f'cast, Nov $19.6 bln. BEIJING, Jan 10- China's export growth rebounded surprisingly sharply to a seven-month high in December, a strong finish to the year after seven straight quarters of slowdown, but subdued global demand means that the spike may not herald an enduring recovery.
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*Trade balance $31.6 bln vs $19.7 bln f'cast, Nov $19.6 bln. BEIJING, Jan 10- China's export growth rebounded more strongly than expected in December from a three-month low, expanding at the fastest rate in seven months, although the outlook for 2013 remains cloudy with U.S. and European demand for Chinese goods still subdued.
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BEIJING, Jan 10- China's export growth is set to rebound from a three-month low in December, although the recovery is likely to be feeble as U.S. and European demand for Chinese goods is still far below levels that would herald a convincing revival.
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NEW YORK, Jan 9- Gold fell in light trading on Wednesday after the previous session's gain, while palladium rose over 2 percent as improving U.S. auto sales amid a better economic outlook triggered fund buying. Signs of better Asian physical demand from China and India, however, provide underlying support, traders said.
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*World shares rise as Alcoa points to solid global demand. LONDON, Jan 9- World shares staged a modest recovery from two days of losses on Wednesday after aluminium giant Alcoa opened the U.S. earnings season with an optimistic outlook for global demand.
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WASHINGTON, Jan 9- The U.S. Congress should accept in the next round of deficit-reduction talks that revenue from taxes must be raised further if it expects President Barack Obama to sign off on a deal, the president's top economic adviser, Gene Sperling, said in an interview.
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LONDON, Jan 9- Brent crude oil stayed below $112 per barrel on Wednesday, as a slightly more optimistic outlook for the global economy was offset by lingering concerns about Europe and increasing supply from the United States. Front-month Brent futures shed 11 cents to $111.83 per barrel at 0932 GMT, after adding 54 cents on Tuesday.
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Jan 8- Alcoa Inc, the largest aluminum producer in the U.S., expressed cautious optimism that demand for the metal will continue to grow in 2013, helped in part by global growth in the aerospace and construction markets.
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What to expect in tomorrow's trading session, with Cliff Davis, BNP Paribas; Robert Luna, SureVest Capital Management; and Laif Meidell, American Wealth Management.
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Alcoa CEO Klaus Kleinfeld discusses quarterly earnings, and his expectations for markets and business in 2013.
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CNBC's John Harwood reports the latest on the U.S. debt; and discussing whether the debt ceiling fight will damage the economy, with CNBC's Steve Liesman and Lindsey Piegza, FTN financial economist.
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The market is closing lower for a second day as earnings season kicks off with Alcoa reporting in a few moments, with Mark Newton, Greywolf Execution Partners; David Sowerby, Loomis Sayles; and Scott Wren, Wells Fargo Advisors.
