Quick Overview

• Blue-chips jumped and the broader market inched higher after the Fed boosted the Fed Funds rate as expected, while hinting that an end to the rate-hiking campaign could be in the works. The Fed dropped a reference to “accommodation” in a statement that followed the 13th straight increase in their target rate to 4.25%. The change suggested that central bankers see rates as high enough to avoid spurring inflation.
  

• YoY, U.K.’s consumer prices were up 2.1% in November, down from a 2.3% gain in October.
  

• Canada's composite index of leading indicators was up 0.3% in November.
  

• The International Energy Agency predicted that world oil demand will increase by 1.9 million barrels per day through 2010.
  

• The International Coffee Organization predicted that the world 2006-2007 coffee crop will total 120 million (60 kg) bags. They estimate consumption at 118 million bags.

• J.P. Morgan said there continues to be a bull case for silver and it deserves to trade on a different outlook. All thanks to a growing number of industrial applications such as biocides, solar power, electronics and a potential ETF launch.