Monday, December 24, 2018

Wall St. Set for Christmas Eve Bounce, Mnuchin Calls Up Bank CEOs, Plunge Protection Team

Investing.com Monday, December 24, 2018

U.S. stock futures pointed to a higher open at the start of the holiday-shortened trading week, as investors geared up for Christmas.

U.S. stock and bond markets will see an abbreviated session on Monday, with equity markets ending at 1:00PM ET (18:00 GMT), while bond markets are set for a 2PM ET (19:00 GMT) close. Both markets will be closed on Tuesday in observation of Christmas Day.

U.S. Treasury Secretary Steve Mnuchin will convene a call with the president's Working Group on Financial Markets, which includes Washington's main stewards of the U.S. financial system and is sometimes referred to as the "Plunge Protection Team."

Mnuchin spoke with the chief executives of JP Morgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley on Sunday, amid the rout on Wall Street.

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