Looming Fed Announcement May Lead To Choppy Trading On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Wednesday, 14 December 2022 09:22:50 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Will This Be the Most-Sought After Market Prediction Tool for 2023?]( Small tweaks to your trading attitude can set you up to benefit down the road. Learn why artificial intelligence should be on every investor?s mind as we start a new year. In fact, you can learn more about this revolutionary tool before 2023! [Save Your Seat for Your Free Live A.I. Training 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 Wednesday, with stocks likely to show a lack of direction after moving notably higher over the two previous sessions. Traders may be reluctant to make significant moves ahead of the Federal Reserve?s highly anticipated monetary policy announcement this afternoon. With the Fed widely expected to slow the pace of interest rate increases to 50 basis points, traders are likely to pay close attention to the accompanying statement for clues about the outlook for future rate hikes. Recent data showing a slowdown in the pace of price growth has led to some optimism the Fed will not raise rates as high as previously feared. The Fed is not likely to make any firm commitments, however, as a slew of key data will be released before the next monetary policy meeting in late January/early February. Stocks gave back ground after an early rally on Tuesday but managed to finish the day mostly higher. The major averages added to the strong gains posted on Monday, further offsetting the steep drop seen last week. After soaring by more than 700 points in early trading, the Dow briefly dipped into negative territory before closing up 103.60 points or 0.3 percent at 34,108.64. The Nasdaq jumped 113.08 points or 1.0 percent to 11,256.81, while the S&P 500 climbed 29.09 points or 0.7 percent to 4,019.65. The early rally on Wall Street came following the release of a report from the Labor Department showing consumer prices in the U.S. inched up by less than expected in the month of November. The Labor Department said its consumer price index crept up by 0.1 percent in November after climbing by 0.4 percent in October. Economists had expected consumer prices to rise by 0.3 percent. Excluding food and energy prices, core consumer prices edged up by 0.2 percent in November after rising by 0.3 percent in October. Core prices were expected to show another 0.3 percent increase. The report also showed the annual rate of growth by consumer prices slowed to 7.1 percent in November from 7.7 percent in October. The year-over-year increase in November, which came in below economist estimates for a slowdown to 7.3 percent, reflects the slowest annual growth since December 2021. The annual rate of growth by core consumer prices also slowed to 6.0 percent in November from 6.3 percent in October, while economists had expected price growth to slow to 6.1 percent. Buying interest waned over the course of the morning, however, as traders seemed reluctant to make significant beats ahead of the Federal Reserve's monetary policy announcement. Oil service stocks turned in some of the market's best performances on the day, driving the Philadelphia Oil Service Index up by 3.6 percent. The rally by oil service stocks came amid a sharp increase by the price of crude oil. A jump by the price of gold also contributed to substantial strength among gold stocks, as reflected by the 2.6 percent surge by the NYSE Arca Gold Bugs Index. Biotechnology, commercial real estate stocks and housing stocks also showed strong moves to the upside, closing higher along with most of the other major sectors. Meanwhile, airline stocks came under pressure over the course of the session, dragging the NYSE Arca Airline Index down by 3.0 percent. United Airlines (UAL) posted a steep loss after announcing an order for 100 of Boeing's (BA) 787 Dreamliners with options to purchase 100 more. --------------------------------------------------------------- [New Battery Tech to "Eat Lithium?s Lunch"?]( The lithium-ion battery transformed Tesla from the laughingstock of the auto industry into the biggest car company in history. It can store energy up to 94% cheaper than a Tesla lithium-ion battery. It?s a "totally new approach to battery technology,"" says the U.S. Department of Energy. [Click here for the full story.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( Import prices in the U.S. declined for the fifth consecutive month in November, according to a report released by the Labor Department on Wednesday. The Labor Department said import prices slid by 0.6 percent in November after falling by a revised 0.4 percent in October. Economists had expected import prices to decrease by 0.5 percent compared to the 0.2 percent dip originally reported for the previous month. Meanwhile, the report said export prices fell by 0.3 percent in November following a revised 0.4 percent drop in October. Export prices were expected to decrease by 0.4 percent compared to the 0.3 percent decline originally reported for the previous month. At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended December 9th. Crude oil inventories are expected to decrease by 3.6 million barrels after falling by 5.2 million barrels in the previous week. The Federal Reserve is due to announce its monetary policy decision at 2 pm ET, followed by Fed Chair Jerome Powell?s post-meeting press conference at 2:30 pm ET. --------------------------------------------------------------- [3 Tiny Stocks Primed to Explode]( The world's greatest investor ? Warren Buffett ? has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential. We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns. [Click here for full details and to join for free.]( --------------------------------------------------------------- Stocks in Focus Shares of Delta Air Lines (DAL) are seeing pre-market strength after the airline raised its fourth quarter earnings forecast and provided upbeat full-year guidance. Online education company Aspen Group (ASPU) may also move to the upside after reporting better than expected second quarter revenues and improved profit margins. On the other hand, shares of Best Buy (BBY) may come under pressure after BofA Securities downgraded its rating on electronics retailer?s stock to Underperform from Neutral. Facility services provider ABM Industries (ABM) may also move to the downside after reporting better than expected fiscal fourth quarter results but providing disappointing guidance. --------------------------------------------------------------- [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 mostly lower on Wednesday, with investors largely staying cautious ahead of the Federal Reserve's monetary policy announcement later in the day. Markets had closed higher on Tuesday after data showing a smaller-than-expected increase in U.S. consumer price inflation in the month of November helped ease concerns about the outlook for interest rates. The European Central Bank, the Bank of England and the Swiss National Bank are scheduled to announce their policy moves on Thursday. While the German DAX Index has slid by 0.7 percent, the French CAC 40 Index is down by 0.4 percent and the U.K.?s FTSE 100 Index is down by 0.2 percent. In economic news, official figures from the Office for National Statistics said U.K. consumer price inflation moderated in November from a 41-year high in October largely on easing transport cost. The data said consumer prices posted an annual increase of 10.7 percent in November, down from 11.1 percent in October, which was the highest since 1981, and weaker than economists' forecast of 10.9 percent. On a monthly basis, consumer prices gained only 0.4 percent. Monthly inflation was expected to ease to 0.6 percent from 2 percent in October. U.K. house price inflation accelerated in October due to the low base of comparison, another report from the Office for National Statistics said. House prices advanced 12.6 percent on a yearly basis in October, up from 9.9 percent in September. Meanwhile, Eurozone industrial production declined for the first time in three months in October, with almost all sectors contracting as economic uncertainty and higher producer prices took a toll on demand. After rising for two straight months, industrial output dropped 2 percent from September, Eurostat, the statistical office of the European Union reported. The pace of decline exceeded the expected 1.5 percent drop and reversed the revised 0.8 percent increase in September. --------------------------------------------------------------- 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]( Euphoria surrounding lower-than-expected inflation readings in the U.S. helped most of the Asian benchmarks to finish Wednesday's trading on a positive note. However, caution ahead of key central bank decisions on interest rates and China's covid caseloads kept the gains in check. China's Shanghai Composite Index edged up 0.20 points or less than a tenth of a percent to 3,176.53. The day's trading ranged between 3,189.83 and 3,168.59. Sentiment was impacted by the surge in Covid cases in the country. The Japanese benchmark Nikkei 225 Index gained 201.36 points or 0.7 percent to end trading at 28,156.21. The day's trading range was between 27,993.78 and 28,195.69. Toray Industries was the biggest gainer with a 7.0 percent surge. Shin- Etsu Chemical Co. gained 3 percent. Mitsui Chemicals, Dentsu and Daiwa House Industry Co. all gained more than 2 percent. Mitsubishi Motors declined more than 3 percent, while J. Front Retailing shed 2 percent. Hino Motors, Resona Holdings and internet media company CyberAgent, all dropped more than one percent. The Hang Seng Index of the Hong Kong Stock Exchange added 77.25 points or 0.4 percent from the previous close to finish trading at 19,673.45. The day's trading range was between a high of 19,859.75 and a low of 19,528.71. The Korean Stock Exchange's Kospi Index gained 26.85 points or 1.1 percent to close trading at 2,399.25. The day's trading range was between 2,379.44 and 2,400.18. Australia's S&P/ASX 200 Index closed trading at 7,251.30 after adding 48.00 points or 0.77 percent. The day's trading was between 7,203.30 and 7,253.50. Gold miner St Barbara was the biggest gainer with a surge of more than 13 percent. Global fintech company Block added 8 percent. Chalice Mining and battery materials company Novonix rallied more than 6 percent. Asset management business Pinnacle Investment Management Group also gained more than 5 percent. Biotechnology business Imugene topped the laggards list with a 5.1 percent decline. Beverage business Endeavour Group followed with a 4.3 percent drop. Bendigo and Adelaide Bank shed 3.3 percent. TPG Telecom and farm products business Graincorp both lost more than 2 percent. --------------------------------------------------------------- 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 climbing $0.77 to $76.16 a barrel after jumping $2.22 to $75.39 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $1,819.80, down $5.70 compared to the previous session?s close of $1,825.50. On Tuesday, gold surged $33.20. On the currency front, the U.S. dollar is trading at 135.07 yen compared to the 135.59 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0640 compared to yesterday?s $1.0633. --------------------------------------------------------------- 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