ADVFN Newsdesk - Profit Taking May Lead To Early Weakness On Wall Street

[ADVFN] [World Daily Markets Bulletin] [Daily world financial news] [Monday, 30 January 2017 11:08:18] [Monitor] [Quote] [Charts] [News] [Toplists] [Forex] [Boards] An ADVANCED Investing Webinar. The 2 MOST PROFITABLE methods (used by Hedge Funds) to acquire Gold & Silver! Collapse-Proof your wealth and PROFIT 12% to 26.4% per year! Retire without running out of MONEY! [REGISTER NOW] --------------------------------------------------------------- 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 Monday, as traders may look to cash in on the recent strength on Wall Street. Following the lackluster performance seen in the previous session, stocks continued to show a lack of direction during trading on Friday. The major averages spent much of the day lingering near the unchanged line. The major averages eventually closed mixed. While the Nasdaq inched up 5.61 points or 0.1 percent to a new record closing high of 5,660.68, the Dow edged down 7.13 points or less than a tenth of a percent to 20,093.78 and the S&P 500 dipped 1.99 points or 0.1 percent to 2,294.69. Despite the roughly sideways movement over the past two days, the major averages moved notably higher for the week. The Nasdaq surged up by 1.9 percent, the Dow jumped by 1.3 percent and the S&P 500 advanced by 1 percent. The choppy trading on Wall Street came as traders remained reluctant to make significant moves amid uncertainty about the near-term outlook for the markets following recent strength. Traders were also digesting the mixed batch of earnings news released by several big-name technology companies after the close of trading on Thursday. While Google parent Alphabet (GOOGL) reported weaker than expected fourth quarter earnings, Intel (INTC) and Microsoft (MSFT) both reported better than expected quarterly results. In economic news, the Commerce Department released a report showing economic growth in the U.S. slowed by more than anticipated in the final three months of 2016. The report said gross domestic product increased by 1.9 percent in the fourth quarter following a 3.5 percent jump in the third quarter. Economists had expected GDP to climb by 2.2 percent. Economists noted that the slowdown was largely due to the impact of fluctuations in trade and said the third and fourth quarters together indicate a strong second half. A separate report from the Commerce Department showed durable goods orders unexpectedly declined in December amid a continued decrease in orders for transportation equipment. The Commerce Department said durable goods orders fell by 0.4 percent in December after tumbling by a revised 4.8 percent in November. Economists had expected durable goods orders to jump by 2.6 percent. However, excluding the drop in orders for transportation equipment, durable goods orders rose by 0.5 percent in December after jumping by 1.0 percent in November. The increase matched estimates. The University of Michigan also released a report showing that consumer sentiment unexpectedly improved to its highest level in thirteen years in January. --------------------------------------------------------------- New Traders Wanted: We Provide ALL Trading Capital & Training If you'd like to learn to trade with NO risk to your own capital – you need to attend this Free Online Investing Seminar. We will fund your trading account – up to $250,000. The better trader you become – the more trading capital we'll provide. Funds are limited so don't miss this once-in-a-lifetime opportunity. To select a convenient time to learn more, just click on this link: [REGISTER HERE] --------------------------------------------------------------- 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 Personal income in the U.S. increased by slightly less than expected in the month of December, according to a report released by the Labor Department. The report said personal income rose by 0.3 percent in December after inching up by 0.1 percent in November. Economists had expected income to rise by 0.4 percent. The Labor Department also said personal spending climbed by 0.5 percent in December after rising by 0.2 percent in the previous month. The increase in spending matched economist estimates. At 10 am ET, the National Association of Realtors is scheduled to release its report on pending home sales in the month of December. Pending home sales are expected to increase by about 0.6 percent in December after tumbling by 2.5 percent in November. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. The Federal Reserve is likely to be back in the spotlight later this week, with the central bank due to announce its latest monetary policy decision on Wednesday. While the Fed is widely expected to leave interest rates unchanged, traders are likely to pay close attention to the accompanying statement. The monthly jobs report due on Friday is also likely to be in focus next week along with reports on consumer confidence, manufacturing and service sector activity, and labor productivity. --------------------------------------------------------------- My #1 Rule: Don't Buy Options The sad truth is that options buyers lose money on 7 of every 10 trades. They place high-risk trades, hoping for a big payout. But they lose - a LOT! 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American Airlines (AAL) reported fourth quarter earnings that fell year-over-year but matched analyst estimates. The company also announced a new $2.0 billion share repurchase authorization. Honeywell (HON) reported fourth quarter earnings that met expectations but on weaker than expected revenues. The conglomerate reaffirmed its 2017 earnings guidance. Oil giant Chevron (CVX) may come under pressure after reporting fourth quarter earnings that came in well below analyst estimates. --------------------------------------------------------------- Stocks just did something really spooky Nervous about where the stock market is headed next? Wonder what President Trump will mean for your stocks? You're not alone. This market has everyone on edge. But what if I told you the Dow could reach 31,000 by this time next year? That's the good news ... The bad news is we're going on a roller coaster ride through hell to get there. "Sitting tight" is the WORST thing you could do. 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The economic confidence index rose to 108.2 from 107.8 in December. The score was expected to remain unchanged at 107.8. The Federal Reserve is likely to be back in the spotlight this week, with the central bank due to announce its latest monetary policy decision on Wednesday. The Bank of Japan and Bank of England also have meetings scheduled for this week. The pan-European Stoxx Europe 600 index was down 0.81 percent at 363.43 in late opening deals after declining 0.3 percent on Friday in response to lackluster U.S. earnings and economic data. The German DAX was losing 0.8 percent while France's CAC 40 index and the U.K.'s FTSE 100 were down about 0.9 percent each. Commodity-related stocks traded mostly lower, with Anglo American, BHP Billiton, Rio Tinto and Tullow Oil falling 1-3 percent. Randgold Resources lost 1 percent after saying it is in discussions to resolve an illegal sit-in which started at the company's Tongon mine in Côte d'Ivoire late on January 26 by some employees demanding annual ex gratia payments. Banking stocks also fell broadly, with Commerzbank, Deutsche Bank, BNP Paribas and Lloyds Banking declining 1-2 percent. Italian lender UniCredit fell as much as 5 percent after saying its end-2016 capital ratios will not meet requirements set by the European Central Bank. Vodafone Group shares rallied 3 percent. In a statement, the mobile telecoms giant said it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India and Idea Cellular. --------------------------------------------------------------- Get FREE Options Trades from Our All-Star Traders Every Day You can get a specific trade recommendation from one of our five trading pros delivered to your inbox each and every morning absolutely FREE. 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Japanese shares fell as a firmer yen clouded the outlook for exporters and a weak reading on U.S. GDP growth weighed on banking stocks. Caution ahead of monetary policy decisions in the U.S., U.K. and Japan as well as Chinese manufacturing data and U.S. jobs data due this week also kept investors nervous. After enjoying a healthy run last week, the Nikkei average closed 98.55 points or 0.51 percent lower at 19,368.85 in thin trade. The broader Topix index dropped 0.35 percent to 1,543.77. Market heavyweight Fast Retailing dropped 1.6 percent, industrial robot maker Fanuc lost 1 percent and mobile carrier SoftBank lost 1.4 percent. Honda Motor, Nintendo, Panasonic and Sony ended largely unchanged as investors prepare for a busy earnings season. Toshiba tumbled 3.7 percent after a report that several trust banks are preparing to sue the company for damages over its 2015 accounting scandal. On the economic front, official data showed that Japanese retail sales grew 0.6 percent in December from a year earlier, gaining for a second straight month but falling below forecasts for a 1.7 percent gain. Australian stocks fell across the board after Trump signed an executive order on immigration, barring all Syrian refugees indefinitely and suspending all refugee admission for 120 days. The benchmark S&P/ASX 200 fell 52.50 points or 0.92 percent to 5,661 while the broader All Ordinaries index closed 51.30 points or 0.89 percent lower at 5,714.30. The big four banks lost between 0.5 percent and 1 percent. Mining giant BHP Billiton shed 0.6 percent and smaller rival Fortescue Metals Group tumbled 2.3 percent despite a surge in iron ore and copper prices. Lower oil prices pulled down oil stocks, with Beach Energy, Oil Search, Origin Energy and Santos closing down between 0.7 percent and 1.5 percent. Crude oil prices extended declines in Asian trading as signs of growing output in the United States overshadowed renewed optimism over the execution of the OPEC-non OPEC oil deal. Oz Minerals declined 0.9 percent after lifting its copper production target for the next two years. Lithium miner Orocobre slumped as much as 7 percent after posting disappointing quarterly results. QBE Insurance rose 0.2 percent on takeover buzz even as the insurer confirmed that it was not in discussions with Allianz or any other potential buyer. Shares of Warnambool Cheese and Butter Factory soared 25 percent after its majority shareholder made a $8.85 per share all-cash offer to buy the rest of the company's stock. Gold miners Evolution, Newcrest and Northern Star climbed 1-3 percent as gold prices edged up on a weaker dollar and in the wake of sluggish data from the United States. --------------------------------------------------------------- Free Options E-Book: How To Win 80% of Trades Do you trade options like the professionals do? Most options traders make the same mistakes - which is why they consistently lose money. But when you learn just 3 simple strategies, you can earn consistent income. [Claim your free E-Book now for details.] --------------------------------------------------------------- Currency and Commodities Markets Crude oil futures are slipping $0.04 to $53.13 a barrel after sliding $0.61 to $53.17 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,192.70, up $4.30 from the previous session’s close of $1,188.40. On Friday, gold edged down $1.40. On the currency front, the U.S. dollar is trading at 114.49 yen compared to the 115.10 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.0644 compared to Friday’s $1.0699. --------------------------------------------------------------- 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