UPDATED 7:15 ET

>> STOCKS – European stocks climbed after a gauge of manufacturing in the euro area rose more than forecast and as investors awaited a Federal Reserve meeting starting tomorrow to gauge the timing of stimulus cuts. U.S. stock-index futures rose and Asian shares fell.

>> BONDS – Treasury 10-year notes advanced for a second day as a slowdown in Chinese manufacturing growth increased demand for the safest securities.

>> COMMODITIES – Crude Oil advanced the most in almost two weeks after Libyan rebels refused to hand over control of three oil ports to the government.

>>CURRENCIES – Australia’s dollar fell ahead of Dec. 18 testimony from its central bank chief and a decision by the U.S. Federal Reserve on trimming stimulus.

>> ECONOMIC DATA – US Empire State Manufacturing Index due at 8:30, ECB President Draghi Speaks at 9:00, AUD Monetary Policy Meeting Minutes at 19:30 ET.

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