Profit Taking May Lead To Initial Pullback On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 16 August 2024 09:05:39 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market The major U.S. index futures are currently pointing to a lower open on Friday, with stocks likely to give back ground following the substantial rally seen in the previous session. Traders may look to cash in on some of the recent strength in the markets, which saw the Nasdaq and the S&P 500 close higher for six consecutive sessions. The recent upward trend has seen the major averages largely offset the sell-off seen early this month, although they remain well off the record highs set in July. Selling pressure is likely to remain somewhat subdued, however, as recent economic data has eased concerns about the economic outlook while also increasing confidence the Federal Reserve will cut interest rates next month. While yesterday?s upbeat retail sales data has reduced the likelihood of a 50 basis point rate cut, the Fed is still widely expected to cut rates by at least 25 basis points. After trending higher over the past several sessions, stocks showed another significant move to the upside during trading on Thursday.... [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 New residential construction in the U.S. saw a steep drop in the month of July, according to a report released by the Commerce Department on Friday. The report said housing starts plunged by 6.8 percent to an annual rate of 1.238 million in July after jumping by 1.1 percent to a revised rate of 1.329 million in June. [Read More]( --------------------------------------------------------------- Stocks in Focus Shares of H&R Block (HRB) are moving sharply higher in pre-market trading after the tax services company reported better than expected fiscal fourth quarter results, increased its quarterly dividend by 1... [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 were broadly higher on Friday, rising for a fourth straight session as strong U.S. retail sales data and low weekly jobless claims figures soothed fears of an impending recession in the world's largest economy. This week's benign producer and consumer price inflation reports also re-affirmed bets for a 25 basis point rate cut by the Federal Reserve in September. ... [Read More]( --------------------------------------------------------------- Asia Asian stocks advanced on Friday as encouraging U.S. data on inflation and retail sales allayed recession fears in the world's largest economy but prompted traders to push back expectations for aggressive rate cuts by the Federal Reserve. The dollar and U.S. Treasury yields held broadly steady in Asian trading on growing optimism that the U.S. economy is headed for a soft landing. Gold was marginally lower but was on track for a weekly gain on optimism that the Fed will ease the interest rate by at least 25 points in September... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are plunging $2.12 to $76.04 a barrel after jumping $1.18 to $78.16 a barrel on Thursday. Meanwhile, ... [Read More]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49