U.S. Stocks May See Initial Strength Amid Cautious Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 04 April 2022 09:13:23 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Meet The Most Influential Voices in Crypto]( Consensus 2022 is the must-attend event for financial professionals. Join CEOs, CIOs, renowned entrepreneurs, and other impactful leaders from across the globe to learn and engage in dialogues on Blockchain, Crypto, NFTs, DeFi, Metaverse, Web3 and more! With 400+ speakers, 100+ sponsors, 15,000 attendees, unparalleled content and various experiences being offered, you?ll gain the resources and knowledge needed to further your business and help your clients achieve their objectives. Consensus takes place June 9-12, in Austin, Texas. Passes are limited. [Save 20% on your Pro Pass by securing your seat today.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a modestly higher open on Monday, with stocks poised to add to the gains posted in the previous session. Early buying interest may be generated in reaction to last Friday?s monthly jobs report showing strong job growth, which may help ease concerns about an economic slowdown. Traders are also likely to keep an eye on developments in the ongoing war between Russia and Ukraine, as the conflict continues to impact energy prices. Ukraine has accused Russia of carrying out a ?massacre? in the town of Bucha, and Western nations have reacted to images of dead civilians with calls for new sanctions on Russia. Overall trading activity may be somewhat subdued, however, as traders express some uncertainty about the near-term outlook for the markets following recent volatility. Traders may look ahead to the release of the minutes of the Federal Reserve?s March meeting, which could shed additional light on the outlook for interest rates. Following the sell-off seen late in Thursday?s session, stocks showed a lack of direction over the course of the trading day on Friday. The major averages spent the day bouncing back and forth across the unchanged line before closing moderately higher. A late move to the upside helped the major averages finish the day in positive territory. The Dow advanced 139.92 points or 0.4 percent to 34,818.27, the Nasdaq rose 40.98 points or 0.3 percent to 14,261.50 and the S&P 500 climbed 15.45 points or 0.3 percent to 4,545.86. For the week, the Dow edged down by 0.1 percent, while the S&P 500 inched up by 0.1 percent and the Nasdaq advanced by 0.7 percent. The choppy trading on Wall Street came as traders expressed some uncertainty about the outlook for the markets after the major averages experienced their first negative quarter since the first quarter of 2020. For the first three months of 2022, the Nasdaq plummeted by 9.1 percent and the S&P 500 and Dow dove by 4.9 percent and 4.6 percent, respectively, although the major averages regained some ground in March. Traders were also digesting the Labor Department's closely watched monthly jobs report, which showed employment increased by less than expected in March but the unemployment rate still fell to a new pandemic-era low. The report showed non-farm payroll employment jumped by 431,000 jobs in March after surging by an upwardly revised 750,000 jobs in February. Economists had expected employment to spike by 490,000 jobs compared to the addition of 678,000 jobs originally reported for the previous month. While the job growth in March fell short of estimates, revisions to data for the two previous months showed employment increased by 95,000 more jobs than previously reported. The strong job growth still contributed to a drop in the unemployment rate, which dipped to 3.6 percent in March from 3.8 percent in February. The unemployment rate was expected to edge down to 3.7 percent. With the bigger than expected decrease, the unemployment rate fell to its lowest level since hitting 3.5 percent in February of 2020. Kathy Bostjancic, Chief U.S. Financial Economist at Oxford Economics, said the report "reinforces the Federal Reserve's strong resolve to rein in inflation and bolsters the case for a 50 basis point rate hike at the May meeting." A separate report from the Institute for Supply Management unexpectedly showed a modest slowdown in the pace of growth in U.S. manufacturing activity in the month of March. Gold stocks moved sharply higher over the course of the session, driving the NYSE Arca Gold Bugs Index up by 3.1 percent to its best closing level in over ten months. The rally by gold stocks came despite a steep drop by the price of the precious metal, as gold for June delivery tumbling $30.30 to $1,923.70 an ounce. Substantial strength was also visible among biotechnology stocks, with the NYSE Arca Biotechnology Index surging by 2.9 percent to a nearly two-month closing high. Energy stocks also turned in a strong performance despite a continued decrease by the price of crude oil, while commercial real estate, telecom and steel stocks also showed strong moves to the upside. On the other hand, transportation stocks moved sharply lower on the day, dragging the Dow Jones Transportation Average down by 4.7 percent. Semiconductor, banking and computer hardware stocks also saw notable weakness, partly offsetting the strength in the aforementioned sectors. --------------------------------------------------------------- [To Any American Who Owns a Cell Phone]( If you own a cell phone, then mobile service providers hope you never get to see this video that could soon go viral. [Watch Video ASAP]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Commerce Department is scheduled to release its report on new orders for manufactured goods in the month of February at 10 am ET. Factory orders are expected to decrease by 0.5 percent in February after jumping by 1.4 percent in January. --------------------------------------------------------------- [Is Biden About to Ban Bitcoin?]( The government is so afraid of cryptocurrency that some worry Biden will ban Bitcoin using a "backdoor" approach. Investors who know what to do could grow their money 60-fold in the months ahead. [Get details here.]( --------------------------------------------------------------- Stocks in Focus Shares of Twitter (TWTR) are soaring in pre-market trading after a Securities and Exchange Commission filing revealed Tesla (TSLA) CEO Elon Musk has taken a 9.2 percent stake in the social media giant. Computer peripheral maker Logitech (LOGI) is also likely to see initial strength after Goldman Sachs upgraded its rating on the company?s stock to Buy from Neutral. On the other hand, shares of Crox (CROX) may move to the downside after Loop Capital downgraded its rating on the casual shoe maker to Hold from Buy and slashed its price target to $80 from $150. --------------------------------------------------------------- [Watch A.I. Forecast Your Stocks in Less than a Minute]( Artificial intelligence makes trading simple. See what stocks are on the rise this week, and what trades you should probably exit?before it?s too late. Save your seat at our LIVE online demonstration and see your stock forecasted today. [Join LIVE online demonstration]( --------------------------------------------------------------- Europe European stocks are slightly higher in cautious trading on Monday despite renewed concerns about inflation and tighter monetary policies. Geopolitical tensions remain on investors' radar, with the EU discussing a new round of sanctions against Russia in response to multiple reports that Russian troops executed unarmed civilians in Ukrainian towns. While the U.K.?s FTSE 100 Index is just above the unchanged line, the German DAX Index and the French CAC 40 Index are both up by 0.1 percent. Swiss drug major Roche has jumped after the U.S. FDA granted Priority Review for Actemra (tocilizumab) intravenous to treat Covid-19 in hospitalized adults. Novartis has also advanced as it unveiled plans to integrate its pharmaceuticals and oncology units into an innovative medicines business. CareTech Holdings has also surged after global asset management firm DBAY Advisors made a 850 million pound ($1.12 billion) possible offer for the social care and education services provider, trumping a proposal from Sheikh Holdings Group. Oil and gas firm I3 Energy has also shown a substantial move to the upside after increasing its revenue forecast. German online delivery service Delivery Hero SE has also soared after it has secured new financing. Meanwhile, Insurer Aviva has moved notably lower after it has appointed Charlotte Jones as its new chief financial officer. easyJet has also declined after announcing it has cancelled more than 200 flights over the weekend. Wizz Air Holdings has also fallen despite the airline reporting a substantial increase in passenger numbers in March. In economic news, German exports grew 6.4 percent on a monthly basis in February, reversing a 3.0 percent decrease in January, Destatis reported. Shipments were forecast to climb 1.5 percent. Likewise, imports advanced 4.5 percent in February, in contrast to the 4.0 percent drop a month ago. Economists had expected a monthly increase of 1.4 percent. Eurozone's investor sentiment deteriorated in April amid the Russia-Ukraine war, the latest data published by the Sentix research group showed. The corresponding index plunged to -18 from -7 in March. --------------------------------------------------------------- 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 rose broadly on Monday as a solid U.S. jobs report helped ease concerns about slowing global growth. The upside momentum was capped by escalations in the Ukraine crisis after Ukraine accused Russia of carrying out a "massacre" in the town of Bucha, and Western nations reacted to images of dead bodies with calls for new sanctions on Russia. Shanghai markets were closed for a holiday as a Covid-19 lockdown in the city entered its second week. Hong Kong's Hang Seng Index jumped 2.1 percent to 22,502.31. Technology shares outperformed after the China Securities Regulatory Commission on Saturday removed a key hurdle preventing full U.S. access to audits. Japan's Nikkei 225 Index rose 0.3 percent to 27,736.47, with Sony Group, Japan Petroleum, Inpex and SoftBank Group adding 1-4 percent. Semiconductor shares fell, with Advantest and Tokyo Electron falling 1.3 percent and 2.7 percent, respectively. Australian markets finished modestly higher, led by gains in the mining sector. The benchmark S&P/ASX 200 Index edged up 0.3 percent to 7,513.70 ahead of an interest rate decision by the Reserve Bank of Australia on Tuesday. Fortescue Metals Group jumped over 3 percent after iron ore futures in China closed at a nearly 8-month high Friday on hopes for more economic stimulus in China. Mineral sands explorer Iluka Resources surged 6.1 percent after announcing the final decision on its $1.2 billion refinery. Pendal Group soared 18.1 percent after it received a non-binding takeover offer from asset manager Perpetual Ltd. Seoul stocks rose notably as falling oil prices and another strong U.S. jobs report helped investors shrug off lingering concerns around potential rate hikes and the Ukraine crisis. The Kospi advanced 0.7 percent to end at 2,757.90. Tech, chemicals and steel shares paced the gainers. --------------------------------------------------------------- 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 jumping $1.89 to $101.16 a barrel after slumping $1.01 to $99.27 a barrel last Friday. Meanwhile, after tumbling $30.30 to $1,923.70 an ounce in the previous session, gold futures are climbing $12.60 to $1,936.30 an ounce. On the currency front, the U.S. dollar is trading at 122.70 yen versus the 122.52 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1006 compared to last Friday?s $1.1043. --------------------------------------------------------------- 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