Futures Pointing To Mixed Open On Wall Street

[ADVFN]( [WorldDaily Markets Bulletin]( [Daily world financial news]( [Friday, 04 September 2020 11:38:31]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [The Ultra-Wealthy Use this Indicator]( Only ONE thing moves stocks prices. The super-rich "get" this (and profit from it). Now finally you can too. You need to see this ASAP. [Click here to read more.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a mixed open on Friday following the broad-based sell-off seen in the previous session. The Dow futures are currently up by 102 points but the Nasdaq futures down by 155 points. The Dow futures jumped following the release of the Labor Department?s closely watched monthly jobs report, which showed another significant increase in employment along with a bigger than expected drop in the unemployment rate. The Labor Department said non-farm payroll employment surged up by 1.371 million jobs in August, nearly in line with economist estimates for a jump of about 1.400 million jobs. The report also showed the unemployment rate dropped to 8.4 percent in August from 10.2 percent in July, while economists had expected the rate to dip to 9.8 percent. The data may help to offset concerns about a slowdown in the pace of the economic recovery following the initial rebound from the coronavirus-induced slowdown. However, technology stocks may see further downside after helping to lead the sell-off seen in the previous session. Tech giant Apple (AAPL) is moving notably lower in pre-market trading along with other big-name tech stocks like Facebook (FB), Amazon (AMZN), and Netflix (NFLX). Profit taking may continue to weigh on the sector, as tech stocks helped to lead the substantial recovery on Wall Street but some analysts have suggested the rebound was overdone. Following the rally seen on Wednesday, stocks showed a substantial move back to the downside during trading on Thursday. The major averages all moved sharply lower, with the tech-heavy Nasdaq showing a particularly steep drop. The major averages climbed off their worst levels going into the close but still posted significant losses. The Dow tumbled 807.77 points or 2.8 percent to 28,292.73, the Nasdaq plummeted 598.34 points or 5 percent to 11,458.10 and the S&P 500 plunged 125.78 points or 3.5 percent to 3,455.06. The sell-off on Wall Street largely reflected profit taking, as some traders looked to cash in on the recent strength in the markets. Stocks had been trending higher over the past several weeks, leading some analysts to suggest the recovery by the markets has been overdone. The Nasdaq and the S&P 500 both ended Wednesday's trading at record closing highs, while the Dow reached its best closing level in over six months. In a marked reversal from recent sessions, tech stocks led the markets lower, as reflected by the nosedive by the Nasdaq. Tech giants Apple (AAPL), Microsoft (MSFT) Alphabet (GOOGL) and Amazon (AMZN) all posted steep losses on the day following recent strength. On the U.S. economic front, the Labor Department released a report showing first-time claims for U.S. unemployment benefits tumbled by more than expected in the week ended August 29th. The Labor Department said initial jobless claims declined to 881,000, a decrease of 130,000 from the previous week's revised level of 1.011 million. Economists had expected jobless claims to drop to 950,000 from the 1.006 million originally reported for the previous week. However, Nancy Vanden Houten, Lead U.S. Economist at Oxford Economics, noted the decrease in jobless claims was largely due to a shift by the Labor Department to a new seasonal adjustment process. The Labor Department is scheduled to release its more closely watched monthly employment report for August on Friday, with employment expected to surge up by 1.4 million jobs. A separate report from the Institute for Supply Management showed a modest slowdown in the pace of growth in service sector activity in the month of August. The ISM said its services PMI dipped to 56.9 in August from 58.1 in July, but a reading above 50 still indicates growth in the service sector. Economists had expected the index to edge down to 57.0. Networking stocks turned in some of the market's worst performances on the day, dragging the NYSE Arca Networking Index down by 7.8 percent to its lowest closing level in well over a month. Ciena (CIEN) led the sector lower after reporting better than expected fiscal third quarter results but warning an orders slowdown related to the COVID-19 pandemic is likely to adversely impact revenue for "a few quarters." Substantial weakness was also visible among semiconductor, software and computer hardware, as reflected by the steep drop by the tech-heavy Nasdaq. Retail stocks also showed a significant move to the downside, with the Dow Jones U.S. Retail Index plunging by 3.9 percent after ending the previous session at a record closing high. Housing, biotechnology, chemical, and healthcare stocks also saw considerable weakness on the day amid a broad-based sell-off on Wall Street. --------------------------------------------------------------- [Man Who Predicted 2020 Gold Rally Issues New Call]( Gold expert explains why massive shift happening right now in the financial markets could create biggest opportunity in last 100 years. [Click here to know more.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( A closely watched report released by the Labor Department on Friday showed employment in the U.S. jumped by slightly less than expected in the month of August. The Labor Department said non-farm payroll employment surged up by 1.371 million jobs in August compared to economist estimates for a jump of about 1.400 million jobs. The report also showed the spike in employment in July was downwardly revised to 1.734 million jobs from the previously reported 1.763 million jobs. Meanwhile, the Labor Department said the unemployment rate dropped to 8.4 percent in August from 10.2 percent in July, while economists had expected the rate to dip to 9.8 percent. --------------------------------------------------------------- --------------------------------------------------------------- Stocks in Focus Shares of DocuSign (DOCU) are moving sharply lower in pre-market trading even though the e-signature company reported better than expected fiscal second quarter results and raised its full-year guidance. Shares of Wayfair (W) may also see initial weakness after Bank of America Securities downgraded its rating on the online retail of furniture and home goods to Neutral from Buy. On the other hand, shares of Smith & Wesson (SWBI) may move to the upside after the firearms maker reported fiscal first quarter results that beat analyst estimates on both the top and bottom lines. --------------------------------------------------------------- --------------------------------------------------------------- Europe European stocks are broadly higher on Friday, led by gains in the banking sector, even as the mood remains a bit cautious after U.S. stocks fell sharply overnight. The French CAC 40 Index and the U.K.?s FTSE 100 Index are both up by 0.4 percent, although the German DAX Index has bucked the uptrend and edged down by 0.1 percent. In Spain, CaixaBank and Bankia shares are soaring amid news the companies are exploring a merger to form the largest lender in the country. Banking stocks Societe Generale, BNP Paribas and Credit Agricole are also moving sharply higher during trading in France. In economic news, German factory orders growth moderated more than expected in July, data from Destatis revealed Friday. Factory orders increased 2.8% on a monthly basis, much slower than the 28.8% rise in June and economists' forecast of 5%. On a yearly basis, overall factory orders declined 7.3% in July following a 10.6% decrease in June. According to survey data from IHS Markit, Germany's construction sector moved closer to stabilization in August, but the coronavirus pandemic remained a restraining factor on demand and expectations. The headline construction Purchasing Managers' Index rose to 48.0 in August from 47.1 in July. The score was the highest in six months in August. U.K. construction sector growth moderated in August from a near five-year high largely due to the lack of new work to replace completed contracts, survey results from IHS Markit showed. The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers' Index unexpectedly fell to 54.6 in August from 58.1 in July. The score was forecast to climb to 58.5. According to data from the Society of Motor Manufacturers and Traders, U.K. new car sales fell in August after double-digit growth in the previous month, dropping by 5% year-on-year. In July, sales had grown 11.3%, which was the first expansion this year. --------------------------------------------------------------- Do you have a full view of the market? Level 2 lets you see all of the orders to buy and sell shares, allowing you to see what is really going on in the market. If you don?t have this in your trading toolkit, you?re at a serious disadvantage. [Learn More / Upgrade]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks ended notably lower on Friday after Wall Street saw its biggest sell-off since June due to a steep decline in tech shares amid concerns about excessive valuations in the sector. Shares in China and Hong Kong closed lower for the third straight session. China's Shanghai Composite Index fell 29.61 points, or 0.9 percent, to 3,355.37, while Hong Kong's Hang Seng Index tumbled 312.15 points or 1.3 percent to 24,695.45. Japanese shares declined as investors booked profits after strong gains in the previous sessions. The benchmark Nikkei 225 Index slumped 260.10 points, or 1.1 percent, to 23,205.43 after rising to a six-month high in the previous session, while the broader Topix slid 14.64 points, or 0.9 percent, to 1,616.60. Market heavyweight SoftBank Group Corp. tumbled 3.2 percent and Fast Retailing edged down 0.2 percent. Sony dipped 1.6 percent and Panasonic declined 0.4 percent. Apple suppliers in Japan such as Murata Manufacturing declined 1.6 percent and Sharp lost 0.7 percent after the iPhone maker's shares tumbled overnight. The Australian market tumbled after two straight days of gains to record its worst since early May, with tech and healthcare stocks among the major losers. The benchmark S&P/ASX 200 Index plunged 187.10 points, or 3.1 percent, to 5,925.50, while the broader All Ordinaries Index plummeted 192.20 points or 3.1 percent, to 6,108.80. In the tech sector, WiseTech Global and Appen tumbled more than 7.percent each, while Afterpay slid 6.7 percent after their U.S. peers tumbled overnight. Among healthcare stocks, ResMed fell 5.4 percent, CSL lost 4.1 percent and Cochlear slid 3.7 percent. The big four banks, ANZ Banking, National Australia Bank and Westpac, lost more than 3 percent each, while Commonwealth Bank declined 2.1 percent. In economic news, the Australian Bureau of Statistics said that the total value of retail sales in Australia was up a seasonally adjusted 3.2 percent on month in July. That was shy of expectations for an increase of 3.3 percent and was up from 2.7 percent in the previous month. Seoul stocks pared initial losses but closed lower after three days of gains. The benchmark Kospi lost 27.65 points, or 1.2 percent, to close at 2,368.25. Market bellwether Samsung Electronics dipped 1.4 percent, while internet portal giant Naver Corp. lost 3.1 percent and rival Kakao declined 2.0 percent. --------------------------------------------------------------- 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]( --------------------------------------------------------------- Commodities Crude oil futures are inching up $0.17 to $41.54 a barrel after edging down $0.14 to $41.37 a barrel on Thursday. Meanwhile, after sliding $6.90 to $1,937.80 an ounce in the previous session, gold futures are dipping $1.80 to $1,936 an ounce. On the currency front, the U.S. dollar is trading at 106.34 yen versus the 106.19 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1836 compared to yesterday?s $1.1852. --------------------------------------------------------------- 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