{"id":605173,"date":"2018-12-24T04:34:13","date_gmt":"2018-12-24T04:34:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/what-were-tracking-on-23-december-2018-2\/"},"modified":"2018-12-24T04:34:13","modified_gmt":"2018-12-24T04:34:13","slug":"what-were-tracking-on-23-december-2018-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/what-were-tracking-on-23-december-2018-2\/","title":{"rendered":"What we\u2019re tracking on 23 December 2018"},"content":{"rendered":"

Good morning, friends, and a very happy Christmas Eve to all those among you who observe. <\/b>It\u2019s another oddly busy news morning here at home even as the holiday-season news slowdown becomes more pronounced abroad.<\/p>\n

** We are off tomorrow <\/b>and will be back in your inboxes on Wednesday morning at the usual time.<\/p>\n

The question of the morning: What will global markets look like this week<\/b>, when thin volumes and empty trading desks means it is anyone\u2019s guess how things unfold. Asian shares opened down across the board this morning, with major indices in Japan, South Korea, mainland China, Hong Kong and Australia all in the red as we slid toward dispatch time. US stock futures also suggest weakness ahead of the opening bell today.<\/p>\n

The Readers of Sheep\u2019s Entrails weigh in: <\/b>The chief equity technical strategist at Bank of America-Merrill Lynch tells CNBC<\/a>, \u201cWe do think the equity markets are set up to continue this cyclical bear market or bear market, just call it what it is \u2014 and correct further, a deeper retracement.\u201d<\/p>\n

Fear not: Steve Mnuchin is on the case with his \u201cPlunge Protection Team.\u201d <\/b>We kid you not: The treasury secretary called top US bankers yesterday and \u201cmade plans to convene a group of officials known as the \u2018Plunge Protection Team,\u2019\u201d Reuters reports<\/a>, sounding just a bit like The Onion. Mnuchin spoke individually to the CEOs of America\u2019s six largest banks and \u201cconfirmed that they have ample liquidity available for lending,\u201d Reuters quotes Treasury as saying. Treasury says the bank chiefs also told him they \u201chave not experienced any clearance or margin issues and that the markets continue to function properly.\u201d Ah, lovely: A reassuring statement that reads as if it was written by pols here in Omm El Donia. Nothing to see here, folks. Move along. Move along.<\/p>\n

Remember: This is from the same guy who tweeted that he\u2019s pretty certain that The Donald doesn\u2019t think The Donald has the power to fire Fed boss Jay Powell. <\/b>Bloomberg has the details<\/a>.<\/p>\n

When are western markets open? <\/b>Funny you should ask:<\/p>\n

London Stock Exchange:<\/b><\/p>\n

Today (24 Dec): Early close (12:30pm London time)<\/p>\n

Tuesday (25 Dec): Closed<\/p>\n

Weds (26 Dec): Closed<\/p>\n

Thurs-Fri (27-28 Dec): Normal hours<\/p>\n

NYSE and Nasdaq:<\/b><\/p>\n

Today (24 Dec): Early close (1pm New York time)<\/p>\n

Tuesday (25 Dec): Closed<\/p>\n

Weds-Fri (26-28 Dec): Normal hours<\/p>\n

The next holiday for the EGX and most regional markets: <\/b>Tuesday, 1 January 2019.<\/p>\n

The latest from America: <\/b>The Donald is apparently fine with his government shutdown running into January<\/a> as he broods over the resignation of Defense Secretary Jim Mattis and sends him to the benches two months early<\/a>.<\/p>\n

Closer to home: Protests in Sudan entered their fifth day<\/b>, Reuters reports, as police fired tear gas a \u201chundreds of protesters spilling out of a soccer match\u201d in Khartoum. Protesters are condemning \u201cprice rises, shortages of basic commodities and a cash crisis,\u201d the newswire adds<\/a>. The Financial Times<\/a> is positioning it as one of the \u201cmost significant challenges\u201d Sudanese President Omar Al-Bashir has faced in nearly 30 years in office.<\/p>\n

In miscellany this morning:<\/b><\/p>\n