Futures Pointing To Continued Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 14 February 2023 10:00:56 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( 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]( --------------------------------------------------------------- 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 Tuesday, with stocks poised to extend the rally seen in the previous session. The upward momentum on Wall Street comes following the release of a Labor Department report showing U.S. consumer prices increased in line with economist estimates in the month of January. The report said the consumer price index climbed by 0.5 percent in January following a revised 0.1 percent uptick in December. Economists had expected consumer prices to rise by 0.5 percent compared to the 0.1 percent dip originally reported for the previous month. Excluding food and energy prices, core consumer prices rose by 0.4 percent in January, matching a revised increase in December as well as economist estimates. The Labor Department also said the annual rate of growth in consumer prices slowed to 6.4 percent in January from 6.5 percent in December. While the year-over-year price growth reflected the smallest increase since October 2021, economists had expected the pace of annual growth to slow to 6.2 percent. The annual rate of core consumer price growth slowed to 5.6 percent in January from 5.7 percent in December. The pace of growth was expected to slow to 5.5 percent. Following the mixed performance seen in the previous sessions, stocks showed a strong move to the upside during trading on Monday. The Dow jumped 376.66 points or 1.1 percent to 34,245,93, the Nasdaq surged 173.67 points or 1.5 percent to 11,891.79 and the S&P 500 shot up 46.83 points or 1.1 percent to 4,137.29. The strength on Wall Street came as some traders looked to pick up stocks at relatively reduced levels following the weakness seen last week, which partly reflected ongoing concerns about the outlook for interest rates. Overall trading activity remained subdued, however, as traders look ahead to tomorrow's closely watched report on consumer price inflation. Consumer prices are expected to show a monthly increase in January, although the annual rate of growth is expected to slow to 6.2 percent from 6.5 percent in the previous month. The inflation data could have a significant impact on the outlook for interest rates amid recent speculation the Federal Reserve may raise rates higher than currently anticipated. Software stocks showed a significant move to the upside on the day, driving the Dow Jones U.S. Software Index up by 2.4 percent. Considerable strength was also visible among tobacco stocks, as reflected by the 2.1 percent jump by the NYSE Arca Tobacco Index. Housing, retail and biotechnology stocks also saw notable strength moving higher along with most of the other major sectors. --------------------------------------------------------------- Read the latest breaking news stories about the hottest companies. [Click here to Find Out More.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Labor Department released a report on Tuesday showing U.S. consumer prices increased in line with economist estimates in the month of January. The report said the consumer price index climbed by 0.5 percent in January following a revised 0.1 percent uptick in December. Economists had expected consumer prices to rise by 0.5 percent compared to the 0.1 percent dip originally reported for the previous month. Excluding food and energy prices, core consumer prices rose by 0.4 percent in January, matching a revised increase in December as well as economist estimates. The Labor Department also said the annual rate of growth in consumer prices slowed to 6.4 percent in January from 6.5 percent in December. While the year-over-year price growth reflected the smallest increase since October 2021, economists had expected the pace of annual growth to slow to 6.2 percent. The annual rate of core consumer price growth slowed to 5.6 percent in January from 5.7 percent in December. The pace of growth was expected to slow to 5.5 percent. At 11 am ET, Dallas Federal Reserve President Lorrie Logan is due to participate in a conversation and moderated question-and-answer session before an event hosted by Prairie View A&M University. Philadelphia Federal Reserve President Patrick Harker is scheduled to speak on the economic outlook before an event, La Salle University 2023 Economic Outlook, at 1 pm ET. At 2:05 pm ET, New York Federal Reserve President John Williams is due to speak before a NYBA NYC Region Meeting organized by the New York Bankers Association. --------------------------------------------------------------- [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 have moved mostly higher during trading on Tuesday, adding to the gains posted in the previous session. While the German DAX Index is up by 0.5 percent, the U.K.?s FTSE 100 Index is up by 0.4 percent and the French CAC 40 Index is up by 0.3 percent. In regional economic news, Germany's wholesale prices increased at the slowest pace in twenty-one months in January, Destatis reported earlier today. The wholesale price index rose 10.6 percent year-on-year in December, slower than the 12.8 percent rise in November. Elsewhere, new data showed that the U.K. employment rate remained steady in the final three months of 2022. ... Coca-Cola HBC has rallied in London. The consumer-packaged goods business and strategic bottling partner of The Coca-Cola Company reported that its full year 2022 comparable net profit grew by 8.1 percent from prior year, due to higher operating profitability. Holiday group TUI has also jumped. The company said recent bookings for the upcoming summer are running ahead of pre-pandemic levels. Meanwhile, German conglomerate ThyssenKrupp has plunged after its operating profit fell by a third in the first quarter. SGL Carbon has also fallen on news that Susanne Klatten would step down as chairwoman of the supervisory board for personal reasons. --------------------------------------------------------------- [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 rose on Tuesday, the dollar slipped, and Treasury bond yields remained pressured as investors remained convinced that key U.S. inflation data due later in the day would show an easing in price pressures on an annual basis. Gold edged higher in Asian trading on dollar weakness, while oil prices dropped around 1 percent after the U.S. government announced it would release more crude from its Strategic Petroleum Reserve (SPR) at a time when U.S. crude markets are flush with supply. Chinese shares eked out modest gains after reports U.S. Secretary of State Antony Blinken is considering meeting top Chinese diplomat Wang Yi at the Munich Security Conference this week. The Shanghai Composite Index rose 0.3 percent to 3,293.28, while Hong Kong's Hang Seng Index reversed course to end 0.2 percent lower at 21,113.76. Japanese shares rose notably, and the yen advanced after the formal nomination of academic Kazuo Ueda as the next Bank of Japan governor. Investors shrugged off weak data showing that the economy rebounded much less than expected in the fourth quarter. The Nikkei 225 Index climbed 0.6 percent to 27,602.77, while the broader Topix ended 0.8 percent higher at 1,993.09. Citizen Watch Co. soared 16.2 percent on share buyback news. Seoul stocks snapped a three-day losing streak amid buying by institutions and foreign investors. The Kospi gained 0.5 percent to settle at 2,465.64. LG Electronics soared 5.7 percent on rosy expectations of its electric vehicle component business while Samsung SDI and SK Hynix jumped 2-3 percent. Australian markets ended slightly higher after three consecutive sessions of losses. The benchmark S&P/ASX 200 Index inched up 0.2 percent to 7,430.90, while the broader All Ordinaries Index gained 0.2 percent to settle at 7,628.60. Tech and telecommunications stocks topped the gainers list, with Telstra rising 1 percent to a near one-year high. Wisetech Global and Afterpay owner Block both added around 3.1 percent. Fiber cement maker James Hardie Industries slumped 4.3 percent after cutting its profit guidance for the full year. Likewise, safety garment manufacturer Ansell plunged 8.7 percent after lowering its earnings per share guidance amid falling sales. --------------------------------------------------------------- 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 tumbling $1.35 to $78.79 a barrel after rising $0.42 to $80.14 a barrel on Monday. Meanwhile, after falling $11 to $1,863.50 an ounce in the previous session, gold futures are inching up $2.10 to $1,865.60 an ounce. On the currency front, the U.S. dollar is trading at 132.33 yen compared to the 132.42 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0764 compared to yesterday?s $1.0723. --------------------------------------------------------------- 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