Your shortlist for the New York Session

Here are the top things you need to be aware of, prior to your trading in the US markets on Friday, December 14:

1. Growth worries and political risks drag down equities

Yields are dropping on risk-off flows into the weekend as growth worries and political risks drag down equities. Stock markets fret about the outlook for world growth and the impact of geopolitical tensions, as the round of weaker than anticipated data out of China, the slump in Eurozone PMI readings and the Brexit risks added to the general revival of global growth concerns.

Market Reaction: European stock markets sold off, with GER30 and UK100 down -1.03% and -0.80% respectively.  Topix and Nikkei lost -1.5% and -2% respectively. NASDAQ underperforming although news that China will temporarily remove a retaliatory duty on U.S.-imported automobiles helped to prevent even stronger losses.  EURUSD tumbled over 0.6% on Eurozone PMI miss, 16-day lows seen under 1.17.

2. WTI stalls at the lows of $52.20

Crude markets are continuing a net directionless consolidation phase that’s been in place for over two weeks now, which follows a 35%-odd plunge from early October through to late November. The OPEC supply curtailment accord, announced last weekend, has helped contribute to the stabilisation.

Market Reaction: WTI crude prices are down 0.7% at $52.23, extending the correction from yesterday’s 6-day peak at $53.26.

3. US calendar has Retail Sales, Industrial Production and Business Inventories

November retail sales rising just 0.1%, with a 0.2% gain for ex-auto sales, following strong respective October gains of 0.8% and 0.7%. The retail data may be dampened by lower vehicle sales and gasoline prices at the pump. Industrial production is projected to rise 0.3% in November after a tepid 0.1% reading in October and business inventories are seen rising 0.6% in October after a 0.4% gain in September.

Market Reaction: Lower than expected Retail Sales is likely to cause much turbulence in the US Dollar.