ADVFN Newsdesk - Futures Pointing To Early Pullback On Wall Street

[ADVFN] [World Daily Markets Bulletin] [Daily world financial news] [Thursday, 20 October 2016 10:11:19] [Monitor] [Quote] [Charts] [News] [Toplists] [Forex] [Boards] Ready for 300% returns? With 8 World Trading Championships under his belt, Chuck Hughes knows how to safely and consistently make a profit simply by trading options. Now, with his new course, Hughes Optioneering Beginner’s Guide for Stunning Profits, you can join Chuck through this step-by-step guide so YOU TOO can reap the benefits of the expert who’s trading accounts see consistent returns of OVER 300%! [Click here for the Free Course] --------------------------------------------------------------- US Market [To view the charts please add newsdesk@advfn.com to your contact list] NYSE AMEX Dow Jones Nasdaq [NYSE] [AMEX] [Dow Jones] [Nasdaq] Please click on the images to view our interactive charts The major U.S. index futures are pointing to a lower opening on Thursday, with stocks likely to give back some ground after moving higher over the two previous sessions. The downward momentum for the markets comes as traders digest the European Central Bank's monetary policy decision as well as the latest batch of earnings and U.S. economic news. U.S. stocks rose for the second straight day on Wednesday, with the major averages closing modestly higher. Oil's rally, positive earnings and a brightening U.S. economic outlook worked in unison to fuel the gains. The major averages opened higher and rose steadily until late morning trading. Subsequently, the averages went about a consolidation move before giving back some of their gains going into the close. The Dow Industrials added 40.68 points or 0.22 percent before ending at 18,203, the S&P 500 Index closed 4.69 points or 0.22 percent higher at 2,144 and the Nasdaq Composite closed at 5,246, up 2.57 points or 0.05 percent. Twenty of the thirty Dow components closed higher for the session, while the remaining ten stocks declined. American Express (AXP), Visa (V), Goldman Sachs (GS) and JP Morgan (JPM) were among the biggest gainers of the session. On the other hand, Intel (INTC) tumbled 5.93 percent and Procter & Gamble (PG) fell 1.43 percent. Among the sectors, resource, financial and airline stocks found strong buying interest, while some weakness emerged among biotechnology stocks. On the economic front, the Commerce Department reported that housing starts fell 9 percent to a seasonally adjusted annual rate of 1.047 million units in September from an upward revised reading of 1.150 million units for August. The bulk of the weakness was in volatile multi-family starts, which fell 38 percent, but single-family starts surged up 8.1 percent. Building permits, considered an indicator of future housing activity, rose to 1.225 million units from an upwardly revised 1.152 million-unit rate in August. Economists had expected a rate of 1.165 million for the month. The Fed's Beige Book showed that national economic activity continued to expand during the period from late August to early October. Labor market conditions were qualified as tight. The Federal Reserve districts reported a flat inflationary environment, although prices increased slightly on net. --------------------------------------------------------------- Alert: The attack on your Social Security Has Begun Set the burglar alarm… because Washington politicians and bureaucrats are about to break in and steal your social security. Discover five things you can do to get everything you deserve. Yours FREE The better informed you are, the better off you can be. Check out this important information today. [Click here to get your copy of Social Security Devastation!] --------------------------------------------------------------- US Economic Reports [To view the charts please add newsdesk@advfn.com to your contact list] CADUSD Oil Gold Allbanc [CADUSD] [Oil] [Gold] [Allbanc] Please click on the images to view our interactive charts Initial jobless claims in the U.S. rose by more than expected in the week ended October 15th, according to a report released by the Labor Department. The Labor Department said initial jobless claims climbed to 260,000, an increase of 13,000 from the previous week's revised level of 247,000. Economists had expected jobless claims to inch up to 250,000 from the 246,000 originally reported for the previous month. While the Federal Reserve Bank of Philadelphia released a separate report showing a slowdown in the pace of regional manufacturing growth in the month of October, the pace of growth slowed less than economists had expected. The Philly Fed said its index for current manufacturing activity in the region fell to 9.7 in October from 12.8 in September, but a positive reading indicates continued growth. Economists had expected the index to drop to 7.0. The National Association of Realtors will release its existing home sales report for September at 10 am ET. The consensus estimate calls for existing home sales to come in at a seasonally adjusted rate of 5.350 million units in September. Existing home sales came in at a seasonally adjusted annual rate of 5.33 million units in August, down from the downwardly revised 5.38 million-unit rate for July. Economists expected sales to have come in at a 5.44 million unit-rate compared to the 5.39 million-unit rate initially reported for July. Single-family home sales fell 2.3 percent, but condominium sales jumped 10.5 percent. Existing home inventories measured in absolute terms fell to 2.04 million units from 2.11 million units, with the months of supply at 4.6 months. The median price of an existing home fell 1.3 percent month-over-month to $240,200, rendering the annual rate to 5.1 percent. Also at 10 am ET, the Conference Board is due to release its U.S. leading economic indicators index for September. Economists expect a 0.2 percent month-over-month increase by the index. The leading economic indicators index fell 0.2 percent month-over-month in August, while economists expected a 0.1 percent increase. The July growth was upwardly revised to 0.5 percent from 0.4 percent. Six of the 10 components making up the index served as drags, while the interest rate spread continued to positively influence the index. The Treasury Department is set to make announcements concerning next week's auctions of 2-year, 5-year and 7-year notes at 11 am ET. At 4:45 pm ET, New York Fed President William Dudley will give closing remarks at a workshop examining culture and behavior in the financial services industry in New York. --------------------------------------------------------------- Stocks in Focus [To view the charts please add newsdesk@advfn.com to your contact list] FTSE 100 Euronext Dax perf CAC 40 [FTSE 100] [Euronext] [Dax perf] [CAC 40] Please click on the images to view our interactive charts Travelers (TRV) reported third quarter earnings that fell year-over-year but came in above analyst estimates. The insurance giant also reported better than expected revenues. Telecom giant Verizon (VZ) also reported better than expected third quarter earnings, although its revenues fell short of estimates. American Express (AXP) reported third quarter adjusted earnings and revenues that were ahead of estimates. The company also raised its 2016 earnings per share guidance, and its 2017 guidance was also positive. eBay (EBAY) reported better than expected third quarter results, while its fourth quarter and full year guidance was lackluster. Mattel (MAT) reported third quarter results that topped expectations. AMD (AMD), Boyd Gaming (BYD), E*TRADE (ETFC), Forward Air (FWRD), KLA-Tencor (KLAC), Maxim Integrated (MXIM), Microsoft (MSFT), Paypal (PYPL) and Schlumberger (SLB) are among the companies due to release their quarterly results after the close of the trading. --------------------------------------------------------------- A massive event recently took place, and almost nobody realized it. Within the next six months, it will disrupt everything about the American economy: The stock market. The bond market. Your 401(k) and IRA... Nothing will ever be the same again. We've posted our in-depth analysis of this event — including what to expect, how to prepare, and the specific steps to take so you come out ahead of everyone else. [Click here to access it (for free) now »] --------------------------------------------------------------- European Markets European stocks are seeing moderate weakness on the day following the European Central Bank's widely expected decision to leave interest rates unchanged. The ECB also confirmed that its monthly asset purchases of 80 billion euros are intended to run until the end of March 2017, or beyond, if necessary. In his subsequent press conference, ECB President Mario Draghi said the risks to euro area growth outlook remain tilted to the downside. Draghi also reiterated that the ECB will act by using all the instruments available within its mandate to achieve its objectives. Nestle reported higher sales for the nine-month period but trimmed its organic sales growth forecast for 2016. France's Publicis reported a 0.4 percent drop in third quarter revenues but confirmed its guidance for 2016. Glencore said it has reached an agreement with the Australian unit of Genesee & Wyoming (GWR), to sell its Glencore Rail (GRail) coal haulage business in the New South Wales Hunter Valley for A$1.14 billion. Roche's 9-month sales increased 6 percent, and the company confirmed its outlook for 2016. On the economic front, a report released by the German Federal Statistical Office showed that annual German producer price inflation fell more than expected in September, but the rate of decline was slower than in August. The European Central Bank reported that the current account surplus for the euro area rose to a 3-month high in August. The surplus increased to 29.7 billion euros from 27.7 billion euros in July, reaching the highest since May. The goods trade surplus and primary income increased, while the services trade surplus and secondary income declined. Retail sales in the U.K. were unchanged in September compared to the previous, belying expectations for a 0.3 percent increase, a report released by the U.K. Office for National Statistics showed. The annual increase was slower than expected. --------------------------------------------------------------- 251 Trades Delivered to Your Inbox - 100% FREE For the next 24 hours only, you can get the very best trading ideas from our all-star line-up of pros delivered to your inbox each and every trading day absolutely FREE. Seven A-list traders duke it out every day to see whose trade will be featured as the #1 trade of the day. Readers have already locked in monster double and triple-digit profits of 38% - 212% in 2015. With a new red-hot trade coming out every single day the market is open, it’s easy for you to get on board for our next round of profits! There is no catch—there are no forms to fill out...no strings...no credit card required. [Just click here now to enter your email address and watch your inbox for tomorrow morning’s trade.] --------------------------------------------------------------- Asian markets [To view the charts please add newsdesk@advfn.com to your contact list] USDCAD USDEUR USDGBP USDJPY [USDCAD] [USDEUR] [USDGBP] [USDJPY] Please click on the images to view our interactive charts The major Asian markets moved about in a lackluster manner before ending mixed, as the positive sentiment generated by the higher close on Wall Street overnight was mitigated by apprehension ahead of the European Central Bank meeting. The Japanese market rallied strongly, advancing for the fifth straight session on yen weakness. The Nikkei 225 Index opened little changed but rose sharply in early trading. Thereafter, the index moved roughly sideways for the rest of the session, ending up 236.59 points or 1.39 percent at a nearly 6-month high of 17,236. A majority of stocks advanced, led by export and real estate stocks. Australia's All Ordinaries Index held mostly above the unchanged line before ending 7.80 points or 0.14 percent higher at 5,526. Energy, industrial, IT, material and utility stocks rallied strongly, offsetting weakness in the consumer, real estate, telecom and financial spaces. Hong Kong's Hang Seng Index ended at 23,374, up 69.43 points or 0.30 percent, while China's Shanghai Composite Index closed 0.26 points or 0.01 percent lower at 3,085. On the economic front, a report released by the Australian Bureau of Statistics showed that the jobless rate in Australia came in at 5.6 percent in September, below the 5.7 percent forecast. The economy lost 9,800 jobs compared to the increase of 15,000 job expected by economists. Full time jobs contracted by 53,000, but the volatile part time jobs expanded by 43,200. The results of a survey by the National Australia Bank showed that the business confidence index for Australia improved to 5 in the third quarter from 3 in the second quarter. However, the business conditions index slipped to 7 from 11 in the second quarter. --------------------------------------------------------------- Free "dummies guide" to trading options. Did you know trading options can actually be safer and more profitable than buying and selling stocks? Video and plain English training guide reveals how to get started tonight. 100% free. [Download now.] --------------------------------------------------------------- Currency and Commodities Markets Crude oil futures are sliding $0.78 to $50.82 a barrel. The November futures ended the previous session up $1.31 at a 15-month high of $51.60 a barrel. The most actively traded December futures are currently falling $0.78 to $51.04 a barrel. The jump seen in the previous session came following the release of the weekly petroleum status report for the week ended October 14th, which showed that crude oil stockpiles fell by 5.2 million barrels to 468.70 million barrels. Stockpiles dropped to near the upper limit of the average range for this time of year. Distillate inventories fell by 1.2 million barrels but were above the upper limit of the average range for this time of the year. Meanwhile, gasoline inventories increased by 2.5 million barrels last week and were well above the upper limit of the average range. Refinery capacity utilization averaged 87.2 percent over the four weeks ended October 14th compared to 89 percent for the four weeks ended October 7th. Gold futures are trading currently at $1,271.50 an ounce, up $1.60 from the previous session's close of $1,269.90 an ounce. On Wednesday, gold rose $7, marking the third straight session of gains. On the currency front, the U.S. dollar is trading at 103.80 yen compared to the 103.44 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0976 compared to yesterday's $1.0974. --------------------------------------------------------------- Receive 120 trades and expert market information...at no cost! With the nation’s top options newsletter, The Option Advisor, you’ll learn how to trade smarter and maximize your returns by utilizing Bernie Schaeffer’s 35 years of options trading experience. Each month you’ll receive 10 trades targeting triple-digit gains, as well as invaluable market insight and commentary. And if you [click here now you’ll receive 12 months FREE!] --------------------------------------------------------------- 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. 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