Profit Taking May Lead To Initial Pullback On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 17 January 2023 08:56:58 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Investing Secret of the 1% Unlocked for the First Time]( You probably haven?t heard, but there's an overlooked investment opportunity predicted to surge to $2.7 trillion by 2026. It's not crypto and it's not stocks ? but the 1% have been using it to help protect their wealth for centuries. In fact, this market just had its best year ever, hauling in nearly $18 billion, even while financial markets plummeted. Here's the best part: One investment platform has unlocked this exclusive asset class for you, and ordinary investors around the world. In fact, one member recently earned over $65,339*. See important Regulation A [disclosures.]( [Exclusive Offer for World Daily Markets Bulletin Readers: Click here to uncover the secret.]( --------------------------------------------------------------- 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 Tuesday, with stocks likely to move back to the downside following the long holiday weekend. Traders may look to cash in on recent strength in the markets amid lingering concerns about the outlook for the economy and interest rates. The Dow ended last Friday?s trading at its highest closing level in over a month, while the Nasdaq and the S&P 500 also reached one-month closing highs. A negative reaction to earnings news from Goldman Sachs (GS) may also weigh on the markets, with the financial giant slumping by 2.8 percent in pre-market trading. The drop by shares of Goldman Sachs comes after the company reported fourth quarter earnings that missed analyst estimates. On the other hand, shares of Morgan Stanley (MS) are seeing pre-market strength after the company reported better than expected fourth quarter earnings. Potentially adding to the concerns about the economy, the New York Federal Reserve released a report showing a significant contraction in regional manufacturing activity in the month of January. Stocks showed a significant turnaround over the course of the trading session on Friday, recovering from initial weakness to close mostly higher. The major averages climbed well off their early lows to end the day firmly positive. The major averages showed a notable move to the upside in the final hour of trading. The Dow rose 112.64 points or 0.3 percent to 34,302.61, the Nasdaq advanced 78.05 points or 0.7 percent to 11,079.16 and the S&P 500 climbed 15.92 points or 0.4 percent to 3,999.09. The gains on the day extended a recent upward trend, helping the major averages moved sharply higher for the week. The Nasdaq surged by 4.8 percent, while the S&P 500 and the Dow jumped by 2.7 percent and 2.0 percent, respectively. The initial weakness on Wall Street came as traders looked to cash in on some the recent strength in the markets amid a negative reaction to earnings news from several big-name financial companies. Shares of JPMorgan Chase (JPM) slumped early in the session even though the company reported fourth quarter results that beat analyst estimates on both the top and bottom lines. JPMorgan also announced an increase in reserves for credit losses, as the firm's macroeconomic outlook now reflects a "mild recession in the central case." However, shares of JPMorgan showed a notable turnaround over the course of the session, surging up by 2.5 percent. Financial giants Citigroup (C), Wells Fargo (WFC) and Bank of America (BAC) also rebounded from initial weakness after reporting their fourth quarter results. The recovery on Wall Street partly came as upbeat consumer sentiment and inflation expectations data helped offset the early negative sentiment. The University of Michigan said its consumer sentiment index jumped to 64.6 in January from 59.7 in December. Economists had expected the index to inch up to 60.5. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 65.2 in April 2022. "Consumer sentiment remained low from a historical perspective but continued lifting for the second consecutive month, rising 8% above December and reaching about 4% below a year ago," said Surveys of Consumers Director Joanne Hsu. The report also showed a continued decrease in one-year inflation expectations, which tumbled to 4.0 percent in January from 4.4 percent in December, falling for the fourth straight month. "The current reading is the lowest since April 2021 but remains well above the 2.3-3.0% range seen in the two years prior to the pandemic," said Hsu. Gold stocks moved significantly higher over the course of the session, driving the NYSE Arca Gold Bugs Index up by 1.3 percent to its best closing level in seven months. The strength among gold stocks came amid a sharp increase by the price of the precious metal. Considerable strength also emerged among retail stocks, as reflected by the 1.2 percent gain posted by the Dow Jones U.S. Retail Index. Oil service, tobacco and brokerage stocks also saw some strength on the day, although most of the major sectors showed only modest moves. --------------------------------------------------------------- [Investing Secret of the 1% Unlocked for the First Time]( You probably haven?t heard, but there's an overlooked investment opportunity predicted to surge to $2.7 trillion by 2026. It's not crypto and it's not stocks ? but the 1% have been using it to help protect their wealth for centuries. In fact, this market just had its best year ever, hauling in nearly $18 billion, even while financial markets plummeted. Here's the best part: One investment platform has unlocked this exclusive asset class for you, and ordinary investors around the world. In fact, one member recently earned over $65,339*. See important Regulation A [disclosures.]( [Exclusive Offer for World Daily Markets Bulletin Readers: Click here to uncover the secret.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( New York manufacturing activity has seen a significant contraction in the month of January, according to a report released by the Federal Reserve Bank of New York on Tuesday. The New York Fed said its general business conditions plunged to a negative 32.9 in January from a negative 11.2 in December, with a negative reading indicating a contraction. Economists had expected the index to climb to a negative 4.5. Looking ahead, the New York Fed said firms expect little improvement in business conditions over the next six months. At 3 pm ET, New York Fed President John Williams is due to give welcome remarks before a hybrid An Economy That Works for All: Moving Towards Equitable Growth conference. --------------------------------------------------------------- [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.]( --------------------------------------------------------------- Europe European stocks are little changed in cautious trading on Tuesday, as investors digest weak GDP data from China and awaited the latest earnings reports for guidance about the health of the world's largest economy. IMF Managing Director Kristalina Georgieva said at the World Economic Forum in Davos, Switzerland, that global economic growth would bottom out this year. In economic releases, data showed the U.K. unemployment rate stabilized at 3.7 percent in three months to November, as expected. While the U.K.?s FTSE 100 Index is down by 0.1 percent, the German DAX Index and the French CAC 40 Index are roughly flat. Ocado Retail, a joint venture between Ocado Group and Marks & Spencer Group, has moved sharply lower after saying it expects mid-single digit sales growth for 2023. Online retail platform THG has also shown a significant move to the downside after revenue growth missed its target. China-exposed HSBC, Prudential, Kering and LVMH are also moving lower as China reported its second-lowest annual economic growth in almost 50 years. Danone has also fallen in Paris after it announced a global action plan to reduce absolute methane emissions from its fresh milk supply chain by 30 percent by 2030. The company plans to remove 1.2 million tons carbon dioxide equivalent of methane emissions by 2030. Nordex AG, a German wind turbine maker, has also come under pressure after it posted a decline in order intake for its wind turbines the fourth-quarter and full-year, amidst a challenging market environment. Luxury fashion brand Hugo Boss AG has also dropped. The company said that its fourth-quarter preliminary sales grew 18 percent to 1.07 billion euros from last year's 905 million euros. Quarterly sales exceeded the 1 billion euros mark for the first time in its history. On the other hand, Recruitment agency Hays has shown a strong move to the upside after reporting an increase in its second-quarter net fees. --------------------------------------------------------------- [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 turned in a mixed performance on Tuesday as China growth data beat forecasts and caution prevailed ahead of a Bank of Japan policy meeting. The dollar index gained in Asian trading, making gold more expensive for buyers holding other currencies. The yen steadied around 128.69 and Japanese 10-year government bond yields topped the Bank of Japan's (BOJ) policy ceiling for a third straight session amid speculation the central bank might call for an exit from its decade-long ultra-loose monetary policy on Wednesday. Oil prices traded mixed after China posted its weakest economic growth in nearly half a century. Chinese shares ended slightly lower as data showed GDP grew an annual 3 percent in 2022 despite various growth pressures. Other indicators for December such as retail sales and industrial production were weak but beat forecasts, helping limit the downside. The benchmark Shanghai Composite Index slipped 0.1 percent to 3,224.24, while Hong Kong's Hang Seng Index dropped 0.8 percent to 21,577.64. Japanese shares rose sharply as the yen eased against the dollar after recent strong gains on speculation that the Bank of Japan might adjust its yield-curve control policy. The Nikkei 225 Index jumped 1.2 percent to 26,138.68, rebounding from two straight sessions of heavy losses. The broader Topix ended 0.9 percent higher at 1,902.89. Automakers Honda Motor, Toyota and Nissan rallied 2-3 percent as the dollar drifted above multi-month lows. Tech stocks such as Advantest and Tokyo Electron jumped 2-3 percent. Industrial robot maker Yaskawa Electric surged 4.1 percent to pace the gainers. Uniqlo store operator Fast Retailing added 2.8 percent after hitting six-month lows in the past two sessions. Seoul stocks fell notably as traders booked profits following nine days of strong gains. The Kospi shed 0.9 percent to close at 2,379.39. Naver, Kakao and LG Energy Solution lost 3-5 percent. Australian markets ended marginally lower to snap a four-day rally as miners declined, offsetting gains in the healthcare sector. Investors ignored the results of a survey showing that consumer sentiment in the country improved for a second straight month in January. BHP, Rio Tinto and Fortescue Metals Group fell over 1 percent as weak economic data from China stirred concerns about a global recession. Gold miners and Energy stocks also finished broadly lower. Origin Energy lost 2.1 percent after the gas provider granted more time for suitor Brookfield to review its books. JB Hi-Fi dropped 1.3 percent despite the electronics retailer reporting record half-year earnings and sales. Across the Tasman, New Zealand's benchmark S&P/NZX 50 Index rose 0.6 percent to 11,881. --------------------------------------------------------------- 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 rising $0.27 to $80.13 a barrel after jumping $1.47 to $79.86 a barrel last Friday. Meanwhile, after surging $22.90 to $1,921.70 an ounce in the previous session, gold futures are sliding $8.70 to $1,913 an ounce. On the currency front, the U.S. dollar is trading at 128.45 yen versus the 128.58 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0849 compared to last Friday?s $1.0822. --------------------------------------------------------------- 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