Today financial bookmakers expect the leading European indexes to fall, as a dip in oil and metal prices prompt investors to book profits after stocks hit a 13-month closing high in the previous session. The Dow Jones industrial average rose 136.49 points, to 10,406.96. The Standard & Poor’s 500 Index gained 15.82 points, or 1.45 percent, to 1,109.30. The Nasdaq Composite Index jumped 29.97 points, or 1.38 percent, to 2,197.85. The Nikkei slipped 61.25 points to 9,729.93, its lowest close in nearly two weeks. The Topix fell 0.4 percent to 857.00

According to new figures, top European firms are underestimating their pension obligations by €300bn (£270bn). Yesterday, data confirmed, that cheaper food and fuel pulled down the eurozone consumer price index in October for a fifth month running in annual terms. Ben Bernanke, commented on the direction of the US dollar last night, saying he was “attentive” to the currency’s ongoing slide. Bernanke’s comments were scrutinised across global markets, as he does not normally comment on the direction of the US dollar. The US dollar has dropped 13 per cent against the pound so far this year. Last night Gold surged to a new record last night, with gold futures rising to $1,144.20 (£679.50) an ounce. Last Month American retail sales grew more than expected as vehicle purchases bounced back, but non-auto sales rose modestly. Yesterday, other data showed New York state manufacturing activity slowed in November for the first time in four months.

Due for release today is the CHF Retail Sales, GBP Core Consumer Price Index, GBP Consumer Price Index, USD Producer Price Index, USD Producer Price Index, USD Net Long-Term TIC Flows and USD Industrial Production.

By Greg Secker