Futures Pointing To Roughly Flat Open On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 23 August 2022 09:06:58 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [RESORT SEEKS Investors & Partners]( Invest in Our New Smokey Mountains Resort and Water Park, Pigeon Forge Tennessee. Be part owner starting at $500. SEC registered. No obligation for a talk with our team. [Click Here]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a roughly flat open on Tuesday, with stocks likely to show a lack of direction following the steep drop seen in the previous session. U.S. stocks tumbled right at the stroke of the opening bell on Monday and stayed weak right through the day's session, extending losses from the previous session. The major averages all ended notably lower. The Dow ended down 643.13 points or 1.91 percent at 33,063.61. The S&P 500 drifted down 90.49 points or 2.14 percent to 4,137.99, while the Nasdaq settled with a loss of 323.64 points or 2.55 percent at 12,381.57. The Dow and the S&P 500 suffered their worst session since mid June. The market fell amid rising concerns about the outlook for interest rates. Traders also looked ahead to the economic symposium in Jackson Hole, Wyoming this week. In a research note, Chris Senyek, chief investment strategist at Wolfe Research, suggested Fed Chair Jerome Powell will sound a more hawkish tone in his comments at the conference. "Fed Chair Powell is likely to sound meaningfully more hawkish during his Jackson Hole speech on Friday morning at 10am ET than he did at his July 27th press conference, when he said the fed funds rate is already back to neutral," Senyek said. He added, "As we've previously discussed at length, we believe that Fed would have to hike the fed funds rate to 4.5%+ to set inflation on a sustainable path back toward the FOMC's long-term 2% target." Shares from across several sectors reeled under severe selling pressure. Technology stocks as bond yields rose. Financial, airline and energy stocks were among the other prominent losers. Netflix shares plunged more than 6 percent after CFRA downgraded the stock's rating, citing concerns about a likely drop in company's earnings inthe second half of the current financial year. Microsoft, Meta Platforms, Alphabet, Intel, Apple, IBM and Cisco Systems declined sharply. Ford shares plunged after the company said it will lay off 3,000 workers to fund its shift to electric vehicles. Visa, Goldman Sachs, American Express, Home Depot, 3M, Caterpillar, JP Morgan Chase and Caterpillar also ended with sharp losses. --------------------------------------------------------------- [Markets are about to move. We can tell you why...]( We know the real themes driving the market. Get The Juice, our FREE daily newsletter that covers the most pressing stories you need to invest wisely. [Sign up today]( --------------------------------------------------------------- Europe European stocks traded mixed in cautious trade on Tuesday as the deepening energy crisis in the region fueled recession fears. Rising U.S. stock futures helped investors shrug off survey results showing that Europe's two largest economies both probably contracted in August. The composite purchasing managers indexes for Germany and France hit a 26-month low and 18-month low, respectively. The U.K. composite flash estimate dropped to an 18-monht low of 50.9 in August from 52.1 in July. As recession worries mount, investors waited for Fed Chair Jerome Powell's comments on inflation and the rate outlook at the upcoming annual Jackson Hole economic symposium later this week. The pan European Stoxx 600 slipped 0.1 percent to 432.59 after losing 1 percent on Monday. The German DAX rose 0.2 percent and France's CAC 40 index was marginally higher while the U.K.'s FTSE 100 was down about half a percent. Swiss drug major Roche fell 1.3 percent after it launched a digital PCR system that helps clinical researchers better understand the nature of a patient's cancer, genetic disease or infection. BT group shares rose about 2 percent after the government allowed French billionaire Patrick Drahi to retain his stake in the telecoms group. John Wood Group tumbled 3.3 percent. After reporting a wider pretax loss for the first half of 2022, the engineering services firm said it expects performance to improve in the second half. --------------------------------------------------------------- [Our Best Stock Pick Every Day]( Stop wasting time scouring for stock picks. Get daily crystal-clear RANKINGS from 1-10 and EXPERT ANALYSIS of the most popular stocks to rare finds directly to your inbox when you sign up for The Spill. [Sign up today]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks closed mostly lower on Tuesday to extend recent losses as investors waited for Fed Chair Jerome Powell's comments on inflation and the rate outlook at the upcoming annual Jackson Hole economic symposium. Surging natural gas prices in Europe also added to the angst over global growth. Chinese shares swung between gains and losses before closing on a flat note. The benchmark Shanghai Composite finished marginally lower at 3,276.22 while Hong Kong's Hang Seng index fell 0.78 percent to settle at 19,503.25. Japanese shares extended losses for a fourth consecutive session as a survey showed Japan's factory activity growth slowed to a 19-month low in August. The Nikkei average fell 1.19 percent to 28,452.75 while the broader Topix index closed 1.06 percent lower at 1,971.44. Rising Treasury yields weighed on tech stocks, with start-up investor SoftBank Group losing 2.4 percent. Hino Motors, a unit of Toyota Motor, plunged 6.4 percent after its engine-related misconduct widened to small trucks. Toyota Motor shares fell 2 percent. Leisure-related airlines and retailers advanced after reports about possible easing of pandemic-related border rules. Japan Airlines and J.Front Retailing rose around 5 percent each. Seoul stocks tumbled on U.S. rate hike worries amid continued hawkish rhetoric from Fed officials. The Kospi average dipped 1.10 percent to 2,435.34, extending losses for a fifth straight session. Market bellwether Samsung Electronics gave up 1.5 percent and No. 2 chipmaker SK Hynix lost 1.68 percent after data showed exports of semiconductors declined 7.5 percent year-on-year in the first 20 days of August amid a fall in chip prices. Samsung SDI, Samsung Biologics, LG Chem and Celltrion fell 2-3 percent as President Yoon Suk-yeol called for in-depth and swift countermeasures to various macroeconomic challenges facing the country. Australian markets ended lower as a survey showed the manufacturing sector in the country expanded at a slower rate in August. The benchmark S&P/ASX 200 dipped 1.21 percent to 6,961.80 while the broader All Ordinaries index settled 1.21 percent lower at 7,199.20. Altium shares jumped nearly 20 percent after the PCB design software firm reported upbeat full-year results and raised revenue outlook. --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Commodities Crude oil futures are jumping $1.11 to $91.47 a barrel after falling $0.54 to $90.23 a barrel on Monday. Meanwhile, after sliding $14.50 to $1,761.10 an ounce in the previous session, gold futures are inching up $0.90 to $1,749.30 an ounce. On the currency front, the U.S. dollar is trading at 137.47 yen compared to the 137.48 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $0.9926 compared to yesterday?s $0.9943. --------------------------------------------------------------- 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