Disappointing Caterpillar Earnings Likely To Weigh On Wall Street

[ADVFN]( [WorldDaily Markets Bulletin]( [Daily world financial news]( [Monday, 28 January 2019 09:34:28]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( $0.10 California Cannabis Firm "According to its CEO; Our company is growing larger and faster than we could have ever imagined." [Read More..]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are pointing to a notably lower opening on Monday, with stocks likely to come under pressure after ending last week?s trading roughly flat. A negative reaction to earnings news from Caterpillar (CAT) is likely to weigh on the markets, with the heavy equipment maker slumping by 5.8 percent in pre-market trading. The drop by Caterpillar comes after the company reported weaker than expected fourth quarter earnings and forecast full-year 2019 earnings below analyst estimates. Caterpillar Chairman and CEO Jim Umpleby said the outlook ?assumes a modest sales increase based on the fundamentals of our diverse end markets as well as the macroeconomic and geopolitical environment.? Early trading activity may be somewhat subdued, however, as traders look ahead to key events later this week, including the release of the Labor Department?s closely watched monthly jobs report on Friday. The Federal Reserve?s monetary policy decision on Wednesday is also likely to attract attention, although the central bank is widely expected to leave interest rates unchanged after last month?s rate hike. Traders are also likely to watch closely for any news regarding a new round of trade talks between U.S. and Chinese officials in Washington this week. Following the volatility seen over the two previous sessions, stocks moved significantly higher over the course of the trading day on Friday. The major averages all climbed firmly into positive territory after ending Thursday's trading mixed. While the major averages pulled back off their highs of the session, the Dow and the Nasdaq still ended the day at their best closing levels in well over a month. The Dow climbed 183.96 points or 0.8 percent to 24,737.20, the Nasdaq jumped 91.40 points or 1.3 percent to 7,164.86 and the S&P 500 advanced 22.43 points or 0.9 percent to 2,664.76. For the holiday-shortened week, the Dow and the Nasdaq both inched up by 0.1 percent, while the S&P 500 edged down by 0.2 percent. The strength on Wall Street came after U.S. Treasury Secretary Steven Mnuchin reportedly said the U.S. and China are making "a lot of progress" in trade talks. A report from Reuters said Mnuchin is looking forward to a meeting with Chinese Vice Premier Liu He next week, which will also include discussions on currency issues. The comments from Mnuchin conflict with remarks by Commerce Secretary Wilbur Ross, who told CNBC on Thursday the U.S. is "miles and miles" from a trade deal with China. "Frankly, that shouldn't be too surprising," Ross said in an interview on CNBC's "Squawk Box," noting the U.S. and China have "lots and lots of issues." Stocks remained firmly positive as President Donald Trump announced an agreement to end the record-setting government shutdown. Trump revealed in a speech from the White House rose garden that lawmakers will vote later today on legislation to fund the shuttered parts of the government until February 15th. The bill will not include money for Trump's controversial border wall, which was the issue that led to the longest government shutdown in U.S. history. Trump indicated that the three weeks of funding provided by the legislation would give lawmakers time to negotiate on the contentious issue of border security. "Many disagree, but I really feel that, working with Democrats and Republicans, we can make a truly great and secure deal happen for everyone," Trump said. With the announcement, Trump seemed to give in to Democratic demands to re-open the government before negotiating on border security. However, if an agreement on border security is not reached by February 15th, Trump suggested the government could shut down again or he could declare the situation on the border a national emergency. Gold stocks showed a substantial move to the upside on the day, driving the NYSE Arca Gold Bugs Index up by 3.8 percent. The rally by gold stocks came amid a sharp increase by the price of the precious metal. Considerable strength was also visible among computer hardware stocks, as reflected by the 3.5 percent spike by the NYSE Arca Computer Hardware Index. Hard drive maker Western Digital (WDC) posted a standout gain after reporting fiscal second quarter earnings that missed analyst estimates but forecasting stronger second half sales. Oil service stocks also moved notably higher amid an increase by the price of crude oil, resulting in a 3.1 percent jump by the Philadelphia Oil Service Index. Semiconductor, steel, and chemical stocks also saw significant strength on the day, while utilities stocks were among the few groups to buck the uptrend. --------------------------------------------------------------- Giving you the chance to tear up your cable internet bill. And turn a single pay check into $110,661 when America's most hated monopoly finally goes six feet under. [Read HOW...]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( Allbanc [Allbanc]( At 11:30 am ET, the Treasury Department is due to announce the results of its auction of $40 billion worth of two-year notes. The Treasury is also scheduled to announce the results of its auction of $41 billion worth of five-year notes at 1 pm ET. --------------------------------------------------------------- Eccentric Millionaire Reveals His Secret $1.8 Million Cryptocurrency Script [Click here]( --------------------------------------------------------------- Europe European stocks have moved mostly lower on Monday ahead of a busy week of key events and U.S. economic indicator releases. The Federal Reserve's monetary policy announcement remains in focus, although the U.S. central bank is widely expected to leave interest rates unchanged. On the U.S. economic front, the all-important jobs data along with reports on consumer confidence, pending home sales and manufacturing activity are scheduled for this week. Investors are also keeping an eye on earnings news from major companies, Brexit developments and the next round of U.S.-China talks for further direction. While the German DAX Index has fallen by 0.4 percent, the U.K.?s FTSE 100 Index and the French CAC 40 Index are down by 0.6 percent and 0.7 percent, respectively. MorphoSys AG has slumped in Frankfurt after a U.S. court declared some patents invalid. Alstom shares have also fallen in Paris. Media reports suggest that the French group and German conglomerate Siemens have made new concessions to the EU Commission regarding the planned merger of their rail activities. Bio-on S.p.A., an Italian Intellectual Property Company, advanced 1.5 percent after it announced a partnership with consumer goods giant Unilever. Supermarket chain Tesco has also dropped on buzz it may cut thousands of jobs in the U.K. Meanwhile, online grocer Ocado and Marks & Spencer have advanced after reports they held secret talks over the launch of a food delivery service. --------------------------------------------------------------- Become a Shareholder in High Times The Original Voice of Cannabis. Join our investor community and help shape the emerging cannabis industry. [Click Here]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks closed Monday's session on a lackluster note after U.S. President Donald Trump announced an agreement temporarily ending the record-setting government shutdown without getting the $5.7 billion he had demanded from Congress for a border wall. Investors looked ahead to the next round of U.S.-China trade talks as well as the next key Brexit debate in the House of Commons for further direction. U.S.-China trade talks will resume in Washington this week, with markets hoping for a thaw in the escalating tensions after U.S. Treasury Secretary Steven Mnuchin said the two countries were "making a lot of progress" in trade talks. Investors also shifted their attention to the Federal Reserve?s two-day meeting starting Tuesday amid growing expectations of dovish hints from the U.S. central bank. China's Shanghai Composite Index eased 0.2 percent to finish at 2,596.98 amid reports the Trump administration has been pressuring America's allies to bar Huawei and other Chinese tech firms from building the infrastructure needed for the implementation of the next generation 5G wireless standard. Hong Kong's Hang Seng Index ended marginally higher at 27,576.96. Japanese shares fell as the yen strengthened and investors braced for earnings results from major U.S. tech companies such as Apple and Microsoft. The Nikkei 225 Index dropped 124.56 points or 0.6 percent to 20,649, while the broader Topix closed 0.7 percent lower at 1,555.51. Nissan Motor declined 0.8 percent as it faces a SEC probe in the U.S. over executive pay. Honda and Toyota fell around 1 percent. Asahi Group Holdings lost over 2 percent after it agreed to acquire U.K.-based Fuller, Smith & Turner's brewing business for $330 million. Auto electronics maker Pioneer fell 1.5 percent after it received shareholder approval for a capital injection of about 102 billion yen from Hong Kong-based private equity fund Baring Private Equity Asia. Meanwhile, Sony gained 0.9 percent on a Nikkei report that the company is opening development centers for image sensors in the U.S. and Europe. Seoul stocks ended roughly flat as investors waited for cues from the Fed meeting and another round of U.S.-China trade talks. Shipbuilders surged after Qatar's energy minister outlined plans to order 60 new liquefied natural gas carriers. Hyundai Heavy Industries rallied 2.5 percent, Daewoo Shipbuilding & Marine Engineering jumped over 4 percent and Samsung Heavy Industries climbed 5 percent. Meanwhile, tech shares came under selling pressure, with SK Hynix losing 3.8 percent and LG Electronics declining 2.6 percent. --------------------------------------------------------------- Get your free PlusOne Coin. Plus One Coin (PLUS1) is a social media cryptocurrency where users can up-vote content and other social media. Claim it free from sponsored faucets [here..]( --------------------------------------------------------------- Commodities Crude oil futures are tumbling $1.03 to $52.66 a barrel after climbing $0.56 to $53.69 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,298.50, up $0.40 from the previous session?s close of $1,298.10. On Friday, gold soared $18.30. On the currency front, the U.S. dollar is trading at 109.38 yen compared to the 109.55 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1420 compared to last Friday?s $1.1406. --------------------------------------------------------------- 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 +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49