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PreMarket: Risk-On trades help world stocks hit 19-month

WORLD HEADLINES – World stocks hit a 19-month high on Wednesday, lifted by strong Japanese trade data, stellar European company earnings and hopes that U.S. President Donald Trump will press ahead with a large fiscal spending package.

STOCKS – U.S. futures pointed to a higher open on Wall Street. On Tuesday the S&P 500 and Nasdaq both rose to fresh record highs and the Dow Jones Industrials came within 51 points of the elusive 20,000 mark.

BONDS – The 10-year yield inched up to 2.48 percent, recovering from its dip below 2.40 percent earlier in the week, while the two-year yield held firm at 1.23 percent. It was as low as 1.14 percent on Monday.

COMMODITIES – Crude Oil Inventories due at 10:30, NZD CPI q/q at 16:45 ET.

CURRENCIES – British pound traded higher while the US dollar retreated from yesterday’s gains.

ECONOMIC DATA – US Flash Manufacturing PMI due at 9:45, Existing Home Sales at 10:00, AUD CPI at 19:30 ET.