Traders May Make Another Attempt At Bargain Hunting

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Thursday, 18 April 2024 09:32:35 [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 modestly higher open on Thursday, with stocks likely to move back to the upside after ending yesterday?s volatile session mostly lower. The upward momentum on Wall Street comes on the heels of four-day losing streaks for the Nasdaq and S&P 500, which have fallen to their lowest levels in almost two months. Traders may once again look to pick up stocks at relatively reduced levels following the recent weakness, although 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. Stocks fluctuated over the course of the trading session on Wednesday before eventually ending the day mostly lower. The Nasdaq and the S&P 500 extended their losing streaks to four days, falling to their lowest closing levels in nearly two months. The major averages all finished the day red, although the Dow posted a relatively modest loss, edging down 45.66 points or 0.1 percent to 37,753.31. The S&P 500 slid 29.20 points or 0.6 percent to 5,022.21 and the Nasdaq tumbled 181.88 points or 1.2 percent to 15,683.37. Weakness among technology stocks weighed on the markets, as reflected by the notable slump by the tech-heavy Nasdaq. Shares of Nvidia (NVDA) came under pressure as the day progressed, with the AI darling... [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]( First-time claims for U.S. unemployment benefits remained flat in the week ended April 13th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims came in at 212,000, unchanged from the previous week's revised level. Economists had expected jobless claims to rise to 215,000 from the 211,000 originally reported for the previous week. The Labor Department said the less volatile four-week moving average also came in unchanged from the previous week's revised average at 214,500. A separate report released by the Philadelphia Federal Reserve showed growth in regional manufacturing has unexpectedly seen a considerable acceleration in the month of April. The Philly Fed said its diffusion index for current general activity jumped to 15.5 in April from 3.2 in March, with a positive reading indicating growth. Economists had expected the index to edge down to 1.5. Looking ahead, the Philly Fed said most future activity indicators declined but continue to suggest that firms expect growth over the next six months. At 9:05 am ET, Federal Reserve Board Governor Mich... [Read More]( --------------------------------------------------------------- Stocks in Focus Shares of D.R. Horton (DHI) are moving sharply higher in pre-market trading after the homebuilder reported fiscal second quarter results that exceeded analyst estimates on both the top and bottom lines. E-commerce giant eBay (EBAY) is also likely to see initial strength after Morgan Sta... [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 have moved modestly higher on Thursday as soft eurozone inflation data for March booted hopes for an ECB rate cut in June. "Talking about the June meeting, I think the probability is increasing that we will see a rate cut in June but there are still some caveats," the chief of Germany's Bundesbank told CNBC's Karen Tso at the IMF Spring Meetings on Wednesday. Geopolitical risk is the biggest threat to a prospective rate cut from the European Central Bank, according to ECB policymaker Robert Holzmann. On a light day on the economic front, the European Central Bank reported earlier today that the euro area current account surplus decreased to a 3-month low in February. The current account surplus dropped to 29.0 billion euros in February from 39.0 billion euros in January. This was the lowest surplus since November last year. While the German DAX Index is down by 0.1 percent, the U.K.?s FTSE 100 Index is up by 0.1 percent and the French CAC 40 Index is up by 0.2 percent. ABB shares have jumped after the Swiss engineering firm reported highe... [Read More]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks rose broadly on Thursday, as the dollar and U.S. Treasury yields retreated from recent highs and Taiwan Semiconductor Manufacturing Corp., the world's largest producer of advanced processors, clocked a stronger-than-expected first-quarter profit on strong AI chip demand. The result contrasted Wednesday's disappointing earnings from chipmaking supplier ASML. Investors slashed Fed rate-cut bets and waited to see how Israel will respond to the Iranian attack. China's Shanghai Composite Index finished marginally higher at 3,074.22, giving up some early gains as fund manager Allspring Global said in a note that valuations call for a substantial rally in Chinese shares. Hong Kong's Hang Seng Index jumped 0.8 percent to 16,385.87, led by heavyweight insurers, casino operators and banks. Japanese stocks eked out modest gains after an unusual trilateral agreement between the U.S., Japan and Korea to consult closely on foreign ex... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are falling $0.41 to $82.28 a barrel after plunging $2.67 to $82.69 a barrel on Wednesday. Meanwhile, after slumping $19.40 to$2,388.40 an ounce in the previous session, gold futures are climbing $9.40 to $2,397.80 an oun... 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