ADVFN Newsdesk - Uncertainty About OPEC Meeting May Lead To Choppy Trading

[ADVFN] [World Daily Markets Bulletin] [Daily world financial news] [Tuesday, 29 November 2016 10:22:35] [Monitor] [Quote] [Charts] [News] [Toplists] [Forex] [Boards] The Green Gold Rush Begins January 1 Marijuana legalization is sweeping the country… On Election Day, California, Nevada and Massachusetts all roundly voted to legalize recreational marijuana use. This change could kick-start the birth of this $100 billion industry. Take action TODAY, and you have a once-in-a-generation opportunity to turn a tiny $50 investment into an absolute fortune. [Click here to find out how.] --------------------------------------------------------------- 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 roughly flat opening on Tuesday, as trader may be reluctant to make any significant moves amid ongoing uncertainty about the highly anticipated OPEC meeting on Wednesday. The price of crude oil is pulling back sharply after moving notably higher in the previous session amid concerns that OPEC members will be unable to finalize an agreement on cutting production. News that non-OPEC oil producer Russia will not attend the meeting has added to uncertainty about the outcome. Stocks moved mostly lower over the course of the trading session on Monday, partly offsetting the strong gains posted last week. The major averages finished the day firmly in negative territory. The Dow dipped 54.24 points or 0.3 percent to 19,097.90, the Nasdaq slid 30.11 points or 0.6 percent to 5,368.81 and the S&P 500 fell 11.63 points or 0.5 percent at 2,201.72. Profit taking contributed to the weakness on Wall Street on the heels of the upward trend seen in reaction to President-elect Donald Trump's surprise victory earlier this month. Traders looked to cash in on some of the recent gains, which once again lifted the major averages to new record closing highs last Friday. Trepidation ahead of the OPEC meeting later this week also weighed on the markets amid uncertainty about whether the members of the cartel will finalize an agreement on reducing oil production. Biotechnology stocks showed a substantial move to the downside on the day, dragging the NYSE Arca Biotechnology Index down by 2.4 percent. Considerable weakness was also visible among housing stocks, as reflected by the 2 percent drop by the Philadelphia Housing Sector Index. Financial, energy, and railroad stocks also saw significant weakness, moving lower along with most of the other major sectors. On the other hand, gold stocks moved sharply higher, driving the NYSE Arca Gold Bugs Index up by 4.6 percent. Utilities stocks also turned in a strong performance on the day, resulting in a 1.8 percent advance by the Dow Jones Utilities Average. --------------------------------------------------------------- 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 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 With consumer spending increasing by more than initially estimated, the Commerce Department released a report showing a bigger than expected upward revision to the pace of GDP growth in the third quarter. The report said GDP climbed by 3.2 percent in the third quarter compared to the initially estimated 2.9 percent increase. Economists had expected the pace of growth to be upwardly revised to 3.0 percent. The upwardly revised GDP growth in the third quarter compares to the 1.4 percent increase seen in the second quarter and marks the strongest growth in two years. New York Federal Reserve President William Dudley is due to deliver remarks on opportunities for economic growth in Puerto Rico in San Juan at 9:15 am ET. At 10 am ET, the Conference Board is scheduled to release its report on consumer confidence in the month of November. The consumer confidence index is expected to climb to 101.0 in November after falling to 98.6 in October. --------------------------------------------------------------- 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 Shares of Tiffany (TIF) are moving sharply higher in pre-market trading after the luxury goods retailer reported better than expected third quarter results. Health insurer UnitedHealth (UNH) could also see early strength on the day after forecasting 2017 earnings above analyst estimates. On the other hand, shares of Shoe Carnival (SCVL) may come under pressure after the footwear retailer reported disappointing third quarter results and cut its annual guidance. Allstate (ALL) announced it has agreed to acquire privately held consumer protection plan provider SquareTrade for approximately $1.4 billion. --------------------------------------------------------------- When this Bubble Bursts... You Could Become Rich Beyond Your Wildest Dreams If history has taught us anything, it’s that bubbles burst. But according to Harry Dent, “People don’t recognize bubbles.” And he warns “we’re headed for a crash of epic proportions. We haven’t seen anything like this since the 1930’s.” But the good news is that we’re also heading towards the greatest profit opportunity of our lifetimes! And you can learn how to capitalize inside Harry’s BRAND NEW book The Sale of a Lifetime: How the Great Bubble Burst of 2017 Can Make You Rich. [Order your copy now] and prepare to take advantage of the most important wealth building opportunity of the last 90 years. --------------------------------------------------------------- European Markets The major European markets have also turned mixed on the day. While the U.K.'s FTSE 100 Index has fallen by 0.6 percent, the German DAX Index is up by 0.3 percent and the French CAC 40 Index is up by 0.8 percent. Deutsche Lufthansa shares have dropped after the German airline announced it would cancel more than 1,700 flights on Tuesday and Wednesday as its main pilots union Vereinigung Cockpit extended their strike into the second week. SGL Carbon has also come under pressure after its board approved a proposal to increase the company's share capital by 76 million euros against cash contributions with shareholders' indirect subscription rights. Actelion shares have plunged amid reports the Swiss biotech company is considering a complicated deal to combine with Johnson & Johnson. In economic news, French consumer spending increased at a faster-than-expected rate in October after falling in the previous month, figures from the statistical office INSEE showed. Another report from the statistical office showed that French GDP grew by 0.2 percent sequentially in the third quarter, as initially estimated. --------------------------------------------------------------- The "Green Gold Rush" Begins January 1 Marijuana legalization is sweeping the country… On Election Day, California, Nevada and Massachusetts all roundly voted to legalize recreational marijuana use. This change could kick-start the birth of this $100 billion industry. Take action TODAY, and you have a once-in-a-generation opportunity to turn a tiny $50 investment into an absolute fortune. [Click here to find out how.] --------------------------------------------------------------- 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 Asian stocks closed mixed yet again on Tuesday as oil price volatility ahead of Wednesday's OPEC meeting and concerns over Sunday's referendum in Italy kept investors' appetite in check. China's Shanghai Composite Index rose 5.92 points or 0.18 percent to 3,282.92 on optimism the Chinese economy will show further signs of recovery in November. Meanwhile, Hong Kong's Hang Seng Index fell 93.50 points or 0.41 percent to 22,737.07. The Chinese yuan climbed to its highest level in a week as authorities stepped up measures to stem capital outflows. Japanese shares drifted lower in thin trade, with falling Treasury yields, the oil price volatility and a stronger yen weighing on markets. The Nikkei 225 Index closed 49.85 points or 0.27 percent lower at 18,307.04 while the broader Topix Index edged down 0.07 percent to finish at 1,468.57. Mitsubishi Motors, Kawasaki Heavy Industries, Suzuki Motor, Mitsubishi Electric, JFE and Fast Retailing were among the prominent decliners. Insurers fell on profit taking after recent gains, with MS&AD Insurance Group and Dai-ichi Life Holdings losing 0.9 percent and 1.4 percent, respectively. Australian shares ended a choppy session in the red, as oil retreated below $47 a barrel and metals consolidated their recent gains ahead of an Italian referendum on constitutional reform and the U.S. employment report due on Friday. The benchmark S&P/ASX 200 ended 6.90 points or 0.13 percent lower at 5,457.50, dragged down by mining and energy stocks. The broader All Ordinaries Index dipped 12.10 points or 0.22 percent to 5,520.50. --------------------------------------------------------------- Ready for 300% returns? 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Against the euro, the dollar is valued at $1.0584 compared to yesterday's $1.0614. --------------------------------------------------------------- Election Fear 2016: You'll Want This "Silver Bullet" Stock Tom Gardner, The Motley Fool CEO, just issued a "Silver Bullet Buy Alert" that aims to protect your wealth and much more... [Click to Learn 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 +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49