Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Monday, the 10th of December.
Stocks are seeing modest strength in mid-day trading today. Upbeat data from China has been partly offset by political uncertainty in Italy.
Reports showed that Chinese industrial output rose 10.1 percent year-over-year in November following a 9.6 percent increase in October, while annual Chinese retail sales growth accelerated to 14.9 percent from 14.5 percent.
However, uncertainty about the political situation in Italy following news that Prime Minister Mario Monti intends to resign has helped to limit the upside for the markets.
Monti's decision to step down came after he lost the support of former Prime Minister Silvio Berlusconi's People of Freedom party. Monti said he would try to pass a budget for 2013 before resigning.
Let's see what the Trade Triangles say about the markets today.
Every Success,
Jeremy Lutz
