Analysis details (15:57)
- US stock futures break overnight highs, with e-mini S&P touching a new session high at 1,435.50, and European stock futures breaking the session's range to hit highs in the DAX future at 7,660.
- FX markets also see risk-on sentiment, as EUR/USD breaks 1.32 for the first time since late April.
- Basic materials and oil & gas sectors lead the gains as cyclical stocks benefit from the risk-on sentiment.
- Republican House Speaker Boehner outlined a contingency plan for the fiscal cliff talks in order to avert the year-end tax increases should negotiations break down, providing optimism for participants amid the fiscal cliff back-and-forth negotiations.
18 Dec 2012 - 15:49 - - Source: RANsquawk
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