Optimism About Slowing Inflation May Lead To Continued Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 12 September 2022 09:15:38 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [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]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to extend the notable rebound seen last week. Traders may continue to pick up stocks at relatively reduced levels after the major averages snapped a three-week losing streak last week, bouncing well off their lowest levels in over a month. Optimism about a slowdown in inflation may also contribute to strength On Wall Street ahead of the release of a closely watched report on consumer prices on Tuesday. The report is expected to show a continued slowdown in the annual rate of consumer price growth to 8.1 percent in August from 8.5 percent in July. Meanwhile, the annual rate of growth by core consumer prices, which exclude food and energy prices, is expected to tick up to 6.0 percent in August from 5.9 percent in July. The data may not impact expectations for a 75 basis point interest rate increase by the Federal Reserve next week but could affect the outlook for future rate hikes. Reports on producer prices, import and export prices, retail sales, industrial production and consumer sentiment are also likely to attract attention in the coming days. Stocks moved sharply higher over the course of the trading session on Friday, extending the notable rebound seen on Wednesday and Thursday. With the continued upward move, the major averages snapped a three-week losing streak. The major averages pulled back off their highs of the session going into the close but held on to strong gains. The Dow jumped 377.19 points or 1.2 percent to 32,151.71, the Nasdaq surged 250.18 points or 2.1 percent to 12,112.31 and the S&P 500 shot up 61.18 points or 1.5 percent to 4,067.36. For the holiday-shortened week, the Dow spiked by 2.7 percent, while the S&P 500 and the Nasdaq soared by 3.6 percent and 4.1 percent, respectively. Stocks continued to benefit from bargain hunting, as the major averages extended the recovery from their worst levels in over a month. Traders seem to be coming to terms with the likelihood of another 75 basis point interest rate hike by the Federal Reserve later this month. Worries about the impact of the Fed's aggressive interest rate hike strategy may continue to lead to some trepidation, but many feel higher rates have been priced into the markets following recent weakness. "Wall Street is finishing the week on a positive note as the dollar's rally has run out of steam as optimism grows for inflation to continue to come down," said Edward Moya, senior market analyst at OANDA. He added, "Economists are slightly lowering their inflation forecasts and that could mean the Fed won't have to take rates above 4%." Steel stocks showed a substantial move to the upside over the course of the session, resulting in a 5 percent spike by the NYSE Arca Steel Index. Significant strength was also visible among oil service stocks, as reflected by the 4.4 percent surge by the Philadelphia Oil Service Index. The rally by oil service stocks came amid a sharp increase by the price of crude oil. Gold stocks also saw considerable strength amid an increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 2.9 percent. Computer hardware, airline and semiconductor stocks also showed notable moves to the upside amid broad based buying interest. --------------------------------------------------------------- [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]( --------------------------------------------------------------- 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 $41 billion worth of three-year notes and $32 billion worth of ten-year notes at 11:30 am ET and 1 pm ET, respectively. --------------------------------------------------------------- [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.]( --------------------------------------------------------------- Europe European stocks have moved sharply higher during trading on Monday, benefiting from improved global sentiment and optimism about a slowdown in U.S. inflation. While the U.K.?s FTSE 100 Index has surged by 1.2 percent, the French CAC 40 Index and the German DAX Index are both up by 1.5 percent. On the economic front, data published by the Office for National Statistics showed the U.K. economy expanded in July, underpinned by a rebound in services, particularly consumer-facing services. Gross domestic product grew 0.2 percent on a monthly basis in July, in contrast to a decrease of 0.6 percent in June. However, the rebound was slower than the 0.3 percent expansion forecast by economists. The contraction in June was partly due to an extra bank holiday in recognition of the Queen's Jubilee. In the U.K., Kingfisher, J Sainsbury, Howden Joinery Group, JD sports Fashion and Tesco are posting standout gains. Alstom is the top gainer in France, while Arcelormittal and Renault have also shown strong moves to the upside on the day. In Germany, Brenntag is the biggest gainer with a 5.4 percent rally. Zalando and Daimler Truck Holding have also gained more than 4 percent. --------------------------------------------------------------- [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.]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks finished mostly higher on Monday, led by gains in technology and mining, amidst positive global market sentiment ahead of the crucial inflation data from the U.S. Stock markets in China, Hong Kong and South Korea were closed for a holiday. Consumer price inflation in the U.S. is seen slowing to 8.1 percent in August from 8.5 percent in July, rekindling hopes of a less hawkish monetary policy stance by the Fed. The Japanese benchmark Nikkei 225 Index added 327.36 points or 1.2 percent to end trading at 28,542.11. The day's trading range was between 28,438.37 and 28,612.89. Isetan Mitsukoshi Holdings rallied 4.7 percent to top the gainers list. Keisei Electric Railway Co., West Japan Railway Co., Shiseido Co. and Keio Corp. all rallied more than 3 percent. Meanwhile, Chiyoda Corp declined 2.4 percent in the day's trading. JGC Corp., Mitsubishi Heavy Industries, Mitsui Engineering and Shipbuilding as well as Toyobo Co. fell more than 1 percent. Australia's S&P/ASX200 Index closed trading at 6,964.50 after climbing 70.30 points or 1.0 percent. The day's trading was between 6,894.20 and 6,974.90. Nickel Mines was the top gainer with a 6.7 percent rally. Biotechnology business Mesoblast, Gold Road Resources, and News Corp. B DRC, all added more than 5 percent. Domino's Pizza Enterprises also gained more than 4 percent. Software company Nuix topped the losers' list with a 6.4 percent decline. Sims Metal Management, financial services company Hub24, Perseus Mining and transportation infrastructure developer Atlas Arteria all declined more than 2 percent. The NZX 50 Index of the New Zealand Stock Exchange rose 55.44 points or 0.5 percent to close at 11,813.21. Trading ranged between 11,757.77 and 11,815.69. Fonterra Shareholders Fund was the top gainer with a 5.8 percent rally. Dairy business A2 Milk Company and software company Vista Group International both gained more than 2 percent. Precinct Properties New Zealand as well as medical instruments business Fisher & Paykel Healthcare Corporation gained more than 1 percent. Tourism Holdings, Telecommunications network company Chorus, electric utility Vector and Sky Network Television all declined more than 2 percent in the day's trading. --------------------------------------------------------------- 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]( --------------------------------------------------------------- Commodities Crude oil futures are climbing $0.87 to $87.66 a barrel after spiking $3.25 to $86.79 a barrel last Friday. Meanwhile, after rising $8.40 to $1,728.60 an ounce in the previous session, gold futures are advancing $12.20 to $1,740.80 an ounce. On the currency front, the U.S. dollar is trading at 142.57 yen versus the 142.47 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0139 compared to last Friday?s $1.0042. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. 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