Five Things Everyone Will Be Talking About Today

Get caught up on what is moving markets today.

BOE Trims Growth and Inflation Forecasts

China stocks enter a bull market, it's 'Super Thursday' at the Bank of England and bonds tumble around the globe after Yellen speaks. Here are some of the things people in markets are talking about today.

China back in bull market

The Shanghai Composite index closed 1.8 percent higher, taking its advance from the August low to more than 20 percent. While the index is still far from its June highs, government actions against short selling and a return of margin debt have managed to turn the tide.

Super Thursday

The Bank of England announces its monetary policy decisions at 7:00 a.m. ET, with none of the economists surveyed by Bloomberg expecting any change in rates. Investors will be concentrating on Governor Mark Carney's press conference, delivered as part of the bank's final Inflation Report of the year, for signals as to when the BoE will start to raise rates. 

Yellen effect

Bonds across the globe fell following Federal Reserve Chair Janet Yellen's testimony to congress yesterday, in which she made clear that a rate rise at the central bank's December meeting is a “live possibility.” Market-based expectations for a December rate rise now stand at 58 percent, after falling below 25 percent in October.

Facebook

Facebook Inc. beat revenue expectations in the third quarter, announcing sales of $4.5 billion in the three-month period. The company said that daily users of its platform topped 1 billion for the first time. Facebook shares are 4.4 percent higher in premarket trading this morning.

EU cuts euro-area growth outlook

The European Commission has cut its growth and inflation outlook for the euro-area for 2016 citing lower oil prices and the weakening global outlook. That weakening outlook was reflected in this morning's German factory orders data which unexpectedly declined for a third month in a row. Investors continue to look to next month's ECB meeting for further stimulus to the economy. 

What we've been reading

This is what's caught our eye over the last 24 hours.

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