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US Futures Slide On Lack Of New "Trade Deal Optimism"; Dollar Ramps Higher

The historic, post-Christmas rally struggled for a second day, with the S&P still unable to decisively cross the critical 2800 resistance level and sliding in a quiet overnight session, while European shares also faded after a mixed Asian session as investors await fresh catalysts on trade and monetary policy. Meanwhile, the dollar advanced for a sixth day as Treasuries edged higher.

Carmakers fell and miners rose, leaving the Stoxx Europe 600 Index little changed with the DAX underperforming peers as auto names weigh alongside banks and insurance names with markets shrugging off a downbeat global economic assessment from the OECD. European banks were again hit by the ever-widening money-laundering scandal which seems to add more names with every passing day. On Wednesday, RBS said it was looking into allegations of money laundering through certain Dutch banks and reports this may concern an ABN Amro business line acquired by RBS. Investors can now add regulatory penalties to the list of bank sector worries after bank were the second-worst Stoxx 600 performer in 2018, hit by political uncertainty, a flattening yield curve and low rates. That relative peformance has continued to send the price ratio vs the Stoxx

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