Futures Pointing To Initial Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Wednesday, 17 April 2024 11:05:27 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to see initial strength following the lackluster performance seen in the previous session. Traders may once again look to pick up stocks at relatively reduced levels following recent weakness in the markets. While the Dow managed to snap a six-day losing streak on Tuesday, the Nasdaq and the S&P 500 closed lower for the third straight session, falling to their lowest closing levels in almost two months. However, recent bargain hunting efforts have been thwarted by ongoing concerns the Federal Reserve will hold off on cutting interest rates until later in the year. A lack of major U.S. economic data may also keep some traders on the sidelines, although the Fed?s Beige Book may attract some attention later in the day. Stocks showed a lack of direction over the course of the trading day on Tuesday, as traders took a breather following the sell-off seen over the two previous sessions. The major averages bounced back and forth across the unchanged line before eventually closing narrowly mixed. While the Dow rose 63.86 points or 0.2 percent to 37,798.97, snapping a six-session losing streak, the Nasdaq edged down 19.77 points or 0.1 percent to 15,865.25 and the S&P 500 slipped 10.41 points or 0.2 percent to 5,051.41. The modest gain by the Dow came amid a surge by shares of UnitedHealth (UNH), with the health insurance giant spiking by 5.2 percent. UnitedHealth rallied after reporting first quarter results that exceeded analyst estimates on both the top and bottom lines. On the other hand, a 2.1 percent slump by shares of Johnson & Johnson (JNJ) limited the upside for the blue chip index even though the healthcare giant reported first quarter earnings that beat expectations. The lack of direction shown by the broader markets came as traders weighed the idea of picking up stocks at ... [Read More]( --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Energy Information Administration is scheduled to release its report on oil inventories in the week ended April 12th at 10:30 am ET. Crude oil inventories are expected to increase by 1.6 million barrels after jumping by 5.8 million barrels in the previous week. The Treasury Department is scheduled to announce the results of this month?s auction of $13 billion worth of twenty-year bonds at 1 pm ET. At 2 pm ET, the Federal Reserve is due to release ... [Read More]( --------------------------------------------------------------- Stocks in Focus Shares of United Airlines (UAL) are moving sharply higher in pre-market trading after the airline reported a much narrower than expected first quarter loss. Media company Omnicom (OMC) may also see initial strength after reporting first quarter results that exceeded analyst estimates on both the top and bottom lines. On the ... [Read More]( --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Europe European stocks are trading higher on Wednesday after falling sharply the previous day on concerns about escalating geopolitical tensions and uncertainty about the outlook for U.S. interest rates. In economic news, data showed U.K. consumer price inflation slowed to 3.2 percent in March from 3.4 percent in February, making it likely the Bank of England will lower its key interest rate later this year. Final data from Eurostat revealed that inflation in the 20 nations sharing the euro currency slowed across the board last month, raising expectations for an ECB rate cut in June. Euro zone inflation slowed to 2.4 percent from 2.6 percent in February, matching the preliminary estimate released earlier this month. While the French CAC 40 Index has jumped by 1.4 percent, the U.K.?s FTSE 100 Index and the German DAX Index are up by 0.7 percent and 0.6 percent, respectively. In corporate news, Swedish commercial vehicle major AB V... [Read More]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks ended mixed on Wednesday, with mainland Chinese stocks posting strong gains after GDP data for the first quarter beat expectations. Japanese markets led losses to end lower for a third straight day due to concerns over rising bond yields and heightened tensions in the Middle East. Uncertainty around rate cuts grew after Fed Chair Jerome Powell and Vice Chair Philip N. Jefferson indicated rates are likely to remain higher for longer. Meanwhile, media reports suggested that Israel's response to Tehran could come ?as soon as Monday.? The dollar held steady in Asian trading, keeping the yen near 34-year lows, as traders recalibrated their rate cut expectations to September from June. Gold retained its allure as a safe haven asset, trading above $2,380 per ounce. Oil prices slipped around half a percent on demand concerns as industry data showed U.S. crude stockpiles jumped more than expected last week. China's Shanghai Composite Index soared 2.1 percent to 3,071.38 as the country's top securities regulator said there won't be a surge in de-listings as a result of new stock exchange rules. Hong Kong's Hang Seng Index finished marginally higher at ... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are falling $0.64 to $84.72 a barrel after edging down $0.05 to $85.36 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $2,400.60, down $7.20 compared to the previous session?s close of $2,407.80. On Tuesday, gold jum... 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