Charting the Markets: When Will the European Central Bank Act?by
European Central Bank President Mario Draghi Thursday will face reporters and may hint about his disposition to more quantitative easing. Just one of the 53 economists surveyed thinks he’ll announce more stimulus this month. But most think it’s only a matter of time, with 43 of the 53 anticipating action sooner or later. So, today will all be about Draghi's tone. You can watch his press conference live on Bloomberg TV and bloomberg.com.
The Euro has risen 0.5 percent against the dollar this month. For the last week and a half people have dialed back their bets on its value growing. The Euro traded in a narrow range Thursday morning, and volatility is the lowest it has been since at least the beginning of August. Options prices show traders have added to wagers that the the shared currency will continue to weaken against the dollar.
Daimler reported operating profit rose 31 percent, and the shares fell 3 percent in early trading before regaining ground. Some investors worry the results were so good it might not get better from here. Daimler, which owns the Mercedes-Benz brand and sells trucks, said it made $4.15 billion last quarter, better than what analysts had estimated. And that was on a sales increase of 10.5 percent. In other words, Daimler is squeezing more profit out of everything it sells. Mercedes delivered 31 percent more cars in China in the first nine months of this year than the year before, while Audi sales were flat and BMW saw an increase of just 2 percent. Daimler did warn growth in China will rise only slightly.
Ryan Chilcote is a presenter on Bloomberg TV. Follow him on Twitter @RyanChilcote
This article was corrected to show Mercedes's 31 percent increase in deliveries was in China.