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

[ADVFN]( [World Daily Markets Bulletin]( [Daily world financial news]( [Monday, 06 February 2017 10:01:17]( [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 following the strong upward move shown by stocks last Friday. Profit taking may contribute to early weakness on Wall Street after the strength seen in the previous session lifted the Dow back above 20,000 and helped the tech-heavy Nasdaq reach a new record closing high. Lingering uncertainty about the impact of President Donald Trump’s policies may also generate some early selling pressure. Nonetheless, overall trading activity is likely to be somewhat subdued on the day amid a lack of major U.S. economic data. Following the lackluster performance seen on Thursday, stocks moved mostly higher over the course of the trading day on Friday. With the upward move, the Dow climbed back above 20,000 and the Nasdaq reached a new record closing high. The major averages ended the session near their best levels of the day. The Dow jumped 186.55 points or 0.9 percent to 20,071.46, the Nasdaq climbed 30.57 points or 0.5 percent to 5,666.77 and the S&P 500 advanced 16.57 points or 0.7 percent to 2,297.42. For the week, the major averages turned in a mixed performance. While the Dow edged down by 0.1 percent, the Nasdaq and the S&P 500 both inched up by 0.1 percent. The strength on Wall Street came following the release of a report from the Labor Department showing stronger than expected job growth but a slowdown in the pace of wage growth. The data is seen as painting a positive picture for the economy while also allowing the Federal Reserve to leave interest rates unchanged next month. The report said non-farm payroll employment jumped by 227,000 jobs in January after climbing by a revised 157,000 jobs in December. Economists had expected an increase of about 175,000 jobs. Despite the stronger than expected job growth, the unemployment rate inched up to 4.8 percent in January from 4.7 percent in December amid an increase in the size of the labor force. The rate had been expected to remain unchanged. Meanwhile, the Labor Department said the annual rate of average hourly employee earnings growth slowed to 2.5 percent from 2.8 percent. A separate report from the Institute for Supply Management showed a slight slowdown in the pace of growth in service sector activity in January. The ISM said its non-manufacturing index edged down to 56.5 in January from a revised 56.6 in December, although a reading above 50 still indicates growth in the service sector. Traders were also reacting to news of President Donald Trump kicking off his efforts to roll back financial regulations. Trump signed two executive orders on regulations, including an order calling for a review of the Dodd–Frank Wall Street Reform and Consumer Protection Act. Financial stocks saw significant strength on the day, with the Dow Jones Banks Index and the NYSE Arca Broker/Dealer Index both surging up by 2.6 percent. Considerable strength was also visible among oil service stocks, as reflected by the 2.2 percent gain posted by the Philadelphia Oil Service Index. Transportation, tobacco, and biotechnology stocks also moved notably higher on the day, while steel stocks bucked the uptrend. --------------------------------------------------------------- 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 After a quiet start, the economic calendar for the week remains relatively light, although traders are likely to keep an eye on reports on international trade, import and export prices, and consumer sentiment. --------------------------------------------------------------- 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! That's why I don't buy options. Instead, I flip them on their head and do "this" with them. I make money 85% of the time! For a limited time, I'm guaranteeing you at least $67,548 per year in profitable options trades if you follow this easy step-by-step process. To learn my options secret, [click here.]( --------------------------------------------------------------- Europe markets The major European markets have moved to the downside on the day as investors wait for clarity on U.S. President Donald Trump's economic policies and the day's economic reports offered a mixed bag. While the U.K.’s FTSE 100 Index has dipped by 0.3 percent, the French CAC 40 Index and the German DAX Index are down by 0.7 percent and 0.9 percent, respectively. ECB President Mario Draghi testifies before the European Parliament later today, with investors looking for clues on the outlook for the central bank's stimulus program. The Eurozone Sentix Investor Confidence Index declined slightly in February to 17.4, matching expectations, while German factory orders rose the most in two and a half years in December, more than making up for a steep decline in the previous month. Meanwhile, survey data from IHS Markit showed that German construction firms registered slower growth in January but were more optimistic about the coming year. The construction Purchasing Managers' Index fell to 52.0 from December's nine-month high of 54.9. U.K. car registrations increased at the start of the year, driven by higher demand from individual consumers, industry data showed. Car sales advanced an annual 2.9 percent to 174,564 units in January, the highest level since 2005. German fish distributor Deutsche See sued Volkswagen over the automaker's emission cheating scandal, sending its stock down 1 percent. Daimler traded higher, while BMW slid. Italian banking major UniCredit has also come under pressure after it signed a deal with trade unions to cut 3,900 jobs as part of a business plan unveiled in December by its new chief executive. Shares of Ryanair Holdings have come under pressure after the airline issued a cautious outlook for the remainder of the year after reporting an 8 percent drop in third-quarter profits. Meanwhile, Randgold Resources has jumped as the gold miner hiked its 2016 dividend by over 50 percent after reporting a 76 percent jump in fourth-quarter net profits. --------------------------------------------------------------- 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. 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China's Shanghai Composite Index climbed 16.81 points or 0.54 percent to 3,156.98 in thin trading, even as a private business survey showed growth in the Chinese service sector lost momentum at the start of 2017. Hong Kong's Hang Seng index jumped 219.03 points or 0.95 percent at 23,348.24. The Caixin China General Services Business Activity Index fell to 53.1 in January from December's 17-month high of 53.4. Japanese shares ended higher, as gains among banking stocks helped offset a slightly stronger yen. Traders also looked ahead to a meeting of Prime Minister Shinzo Abe and Trump later this week, which may help defuse concerns over trade. The Nikkei 225 Index rose 58.51 points or 0.31 percent to 18,976.71, while the broader Topix index closed 0.36 percent higher at 1,520.42. Mitsubishi UFJ rallied 3.4 percent after reporting a 17 percent increase in its third-quarter profits. Sumitomo Mitsui trust Financial rose 1.6 percent, Mizuho Financial gained 0.8 percent and Resona Holdings added half a percent. Exporters shrugged off the yen's strength to close mostly higher. Meanwhile, Australian shares erased early gains to end a tad lower, as losses in the mining sector overshadowed gains among financials and gold miners. Disappointing retail sales data also kept investors on guard ahead of the Reserve Bank's first board meeting of the year on Friday. The total value of retail sales in Australia fell a seasonally adjusted 0.1 percent in December from the previous month, missing forecasts for an increase of 0.3 percent. The benchmark S&P/ASX 200 Index ended 6 points or 0.11 percent lower at 5,615.60, while the broader All Ordinaries index slid 7.10 points or 0.13 percent to 5,665.40. Mining giant BHP Billiton fell over 1 percent and South32 shares fell as much as 4.4 percent after iron ore prices fell back toward the $80 mark. Santos shares shed 0.8 percent after the oil & gas producer fell short of its target of raising $500 million through a share purchase plan for retail shareholders. Virgin Australia Holdings dropped 2.4 percent after its budget unit pulled out of Bali following a spat with the Indonesian authorities. On the other hand, National Australia Bank advanced 0.8 percent despite reporting a 1 percent decline in first quarter unaudited cash profit. --------------------------------------------------------------- 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. Sign up in the next 24 hours and you'll join a select group of investors who are racking up market-beating results with these trades, day in and day out. And when I say free, I mean FREE. There are no forms to fill out...no strings...no credit card required...ever. [Just click here to enter your email address and get 251 trades a year FREE for life.]( --------------------------------------------------------------- Currency and Commodities Markets Crude oil futures are slipping $0.10 to $53.73 a barrel after rising $0.29 to $53.83 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,231.70, up $10.90 from the previous session’s close of $1,220.80. On Friday, gold edged up $1.40. On the currency front, the U.S. dollar is trading at 112.16 yen compared to the 112.61 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.0716 compared to Friday’s $1.0783. --------------------------------------------------------------- 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. 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