Renewed Covid Concerns May Weigh On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 11 July 2022 09:19:56 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Buy Alert For $2 Coin]( The man who picked Bitcoin in 2014 when it was trading for just $369... picked Ethereum in 2016 when it was trading for just $7, AND even warned his followers of the 2020 crash. Now he believes a tiny $2 coin is set to SOAR! Maybe even as soon as this month. So if you missed Bitcoin and Ethereum... this could be your final chance at mind boggling crypto gains. Learn how to get in front of this massive opportunity. [Click here now before it's too late.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to come under pressure following the lackluster performance seen in the previous session. Renewed Covid concerns may weigh on the markets as Shanghai reported its first case of the highly infectious BA.5 omicron sub-variant, raising fears of more lockdowns. Macau also closed all its casinos for the first time in over two years on Monday after a coronavirus outbreak in the world's biggest gambling hub. Overall trading activity may be somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines. The economic calendar picks up later this week with the release of reports on consumer and producer price inflation, retail sales and industrial production. Earnings season also unofficially gets underway later this week, as financial giants JPMorgan Chase (JPM), Morgan Stanley (MS), Citigroup (C) and Wells Fargo (WFC) are due to report their quarterly results. After trending higher for several sessions, stocks showed a lack of direction over the course of the trading day on Friday. The major averages recovered from an early move to the downside but spent the rest of the session bouncing back and forth across the unchanged line. The major averages eventually finished the session narrowly mixed. While the Nasdaq inched up 13.96 points or 0.1 percent to 11,635.08, the Dow dipped 46.40 points or 0.2 percent to 31,338.15 and the S&P 500 edged down 3.24 points or 0.1 percent to 3,899.38. Despite the mixed performance on the day, the major averages all moved higher for the week. The Nasdaq spiked by 4.6 percent, while the S&P 500 jumped by 1.9 percent and the Dow climbed by 0.8 percent. The choppy trading on Wall Street came following the release of a closely watched Labor Department showing stronger than expected U.S. job growth in the month of June. The data eased worries about the economy while also adding to concerns about aggressive interest rate hikes by the Federal Reserve. The Labor Department said non-farm payroll employment jumped by 372,000 jobs in June after surging by a revised 384,000 jobs in May. Economists had expected employment to increase by 268,000 jobs compared to the addition of 390,000 jobs originally reported for the previous month. "The strong 372,000 gain in non-farm payrolls in June appears to make a mockery of claims the economy is heading into, let alone already in, a recession," said Andrew Hunter, Senior U.S. Economist at Capital Economics. He added, "That may be enough to solidify the case for another 75bp rate hike at the Fed's meeting later this month, although signs that wage growth is cooling and the recent plunge in commodity prices both suggest the inflation outlook could improve more quickly than officials had feared." The stronger than expected job growth reflected notable job gains in professional and business services, leisure and hospitality, and healthcare. Meanwhile, the report showed the unemployment remained at 3.6 percent for the fourth month in a row, matching economist estimates. Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets. Tobacco stocks showed a substantial move to the downside, however, with the NYSE Arca Tobacco Index plunging by 3.4 percent to its lowest closing level in well over a year. Telecom and steel stocks also saw some weakness on the day, while strength was visible among brokerage and housing stocks. --------------------------------------------------------------- ["I only trade ONE stock & I NEVER worry about..."]( The name of the ONE stock (ticker symbol and all) that has helped over 170,000 people discover how to gain their financial freedom... [Learn more]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Treasury Department is scheduled to announce the results of this month?s auction of $43 billion worth of three-year notes at 1 pm ET. At 2 pm ET, New York Federal Reserve President John Williams is due to participate in a moderated discussion before a hybrid Last Call on LIBOR: Final Steps to Transition conference. --------------------------------------------------------------- [#1 Crypto to buy in 2022]( A groundbreaking new $30 Trillion shock wave is taking the crypto world by storm... and all the smart money is moving ahead of this upcoming shock. Jeff Bezos, Mark Zuckerburg, Mark Cuban and Bill Gates are all moving their money as we speak. But the real story is the tiny $2 crypto situated at the forefront of this $30 trillion wave. [Click here to see the $2 coin leading the way.]( --------------------------------------------------------------- Stocks in Focus Shares of Twitter (TWTR) are under pressure in pre-market trading after Elon Musk called off his $44 billion takeover of the social media giant. Twitter said it plans to pursue legal action to enforce the merger agreement. Lululemon (LULU) and Under Armour (UAA) are also seeing pre-market weakness after Jefferies downgraded its ratings on both apparel makers. Lululemon was downgraded to Underperform from Hold, while Under Armour was downgraded to Hold from Buy. On the other hand, shares of Mattel (MAT) are likely to see initial strength after Goldman Sachs upgraded its rating on the toy maker to Buy from Neutral. --------------------------------------------------------------- [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 have fallen on Monday as the euro holds above parity versus the dollar, adding to worries that corporate profits could come under pressure. Meanwhile, as Russia turns off Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany for annual maintenance, Germany has warned that Moscow could halt gas flows permanently. Flows are expected to stop for 10 days, but it is feared that the shutdown might be extended due to the war in Ukraine. Fresh COVID-19 curbs in China also weighed on sentiment as investors await U.S. inflation data due this week to gauge how aggressive the Federal Reserve will be in hiking interest rates. 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 0.8 percent, respectively. Danske Bank shares have slumped after the Danish lender revised its 2022 net profit outlook downwards, citing rising interest rates and unfavorable financial market conditions. Miners Anglo American, Antofagasta and Glencore have also fallen after the discovery of a new Omicron subvariant BA.5.2.1 in Shanghai. Wizz Air has also tumbled after it warned of flight curbs this summer due to labor shortages and strikes at European airports. Go-Ahead Group, a public transport company, has also declined despite saying it expects to report a good performance for the year ended July 2, 2022. Meanwhile EDF shares have risen in Paris after Prime Minister Elisabeth Borne unveiled plans to nationalize the debt-ridden power company to address the country's energy crisis. --------------------------------------------------------------- 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 broadly lower on Monday as upbeat U.S. jobs data rekindled worries over aggressive policy tightening and parts of China's financial hub faced more rounds of mass testing to fight rising COID-19 infections. Shanghai reported its first case of the highly infectious BA.5 omicron sub-variant on Sunday and warned of "very high" risks, raising fears about more lockdowns. China's Shanghai Composite Index tumbled 1.27 percent to 3,313.58 ahead of exports and imports data due on Wednesday. Hong Kong's Hang Seng Index plunged 2.8 percent to 21,124.20, with heavyweights Tencent Holdings and Alibaba pacing the declines after market regulators in China fined companies for not reporting past transactions as required. Japanese shares bucked the weak regional trend to end sharply higher as investors cheered a landslide parliamentary election victory by the ruling Liberal Democratic Party. The Nikkei 225 Index jumped 1.1 percent to 26,812.30, while the broader Topix finished 1.4 percent higher at 1,914.66. Japan's core machinery orders fell 5.6 percent in May from the previous month, government data showed earlier today. Separately, the Bank of Japan raised its economic assessment for seven of the country's nine regions, saying the pandemic's impact on consumption is easing. Seoul stocks ended lower to snap a two-day winning streak on concerns about the outlook for corporate earnings. The Kospi dropped 0.4 percent to 2,340.27. SK Hynix, LG Chem and Naver fell 1-3 percent, while automakers Hyundai Motor and Kia ended on a positive note. Bio heavyweight Celltrion advanced 1.9 percent amid worries over a resurgence of coronavirus infections. Australian markets fell the most in over a week, dragged down by miners. The benchmark S&P/ASX 200 Index slumped 1.11 percent to 6,602.20 points, snapping a two-day winning streak and marking its worst session since June 30. The broader All Ordinaries Index tumbled 1.2 percent to 6,792.60. BHP, Rio Tinto and Fortescue Metals Group lost 2-3 percent as iron ore prices fell on fears of weakening demand in top steel producer China. Gold miners Newcrest and Northern Star Resources both fell around 3 percent as a stronger dollar put downward pressure on bullion prices. --------------------------------------------------------------- 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 tumbling $2.70 to $102.09 a barrel after jumping $2.06 to $104.79 a barrel last Friday. Meanwhile, after inching up $2.60 to $1,742.30 an ounce in the previous session, gold futures are falling $9.30 to $1,733 an ounce. On the currency front, the U.S. dollar is trading at 137.55 yen versus the 136.10 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0079 compared to last Friday?s $1.0185. --------------------------------------------------------------- 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