Futures Pointing To Roughly Flat Open On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 28 March 2023 10:29:21 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Try AI Investing, Get 10 Free Shares]( Have you tried Magnifi Personal yet? With the world's first AI investing assistant, it's like having a co-pilot for your investing. You can get 24/7 personalized guidance, on-demand analysis, plus a commission-free investment marketplace. [Get started]( --------------------------------------------------------------- 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 mixed performance seen in the previous session. Traders may be reluctant to make significant moves as they await additional news out of the banking sector as well as some key U.S. economic data later in the week. Friday?s report on personal income and spending in the month of February is likely to be in focus, as it includes a reading on inflation said to be preferred by the Federal Reserve. With the Fed signaling last week that it expects just one more interest rate increase this year, traders will look to the data for clues about the timing of the final rate hike. CME Group?s FedWatch Tool currently indicates a 56.0 percent chance the Fed will leave rates unchanged at its next meeting in early May and a 44.0 percent chance of a 25 basis point increase. After posting strong gains last week, the major U.S. stock indexes turned in a mixed performance during trading on Monday. While the major averages all moved to the upside in early trading, the tech-heavy Nasdaq swung back and forth across the unchanged line before closing in negative territory. The Nasdaq slid 55.12 points or 0.5 percent to 11,768.83, while the Dow climbed 194.55 points or 0.6 percent to 32,432.08 and the S&P 500 rose 6.54 points or 0.2 percent to 3,977.53. The early strength on Wall Street came as traders looked to build on last week's gains as fears of a global banking crisis once again eased following the latest developments in the sector. Shares of First Citizens BancShares (FCNCA) skyrocketed after the company an agreement with the FDIC to purchase substantially all deposits and loans of failed Silicon Valley Bridge Bank. The FDIC said the transaction included the purchase of about $72 billion of Silicon Valley Bridge Bank's assets at a discount of $16.5 billion. U.S.-listed shares of Deutsche Bank (DB) also showed a strong move back to the upside after German Chancellor Olaf Scholz noted the bank remains profitable and said there's no reason to doubt its future. Additionally, a report from Bloomberg said U.S. authorities are considering expanding an emergency lending facility for banks in ways that would give First Republic Bank (FRC) more time to shore up its balance sheet. Officials have yet to decide on what support they could provide First Republic and an expansion of the Federal Reserve's offering is one of several options being weighed at this early stage, Bloomberg said, citing people with knowledge of the situation. Buying interest waned over the course of the session, however, with a lack of major U.S. economic data keeping some traders on the sidelines. Energy stocks moved sharply higher over the course of the session, benefitting from a substantial increase by the price of crude oil. Reflecting the strength in the sector, the Philadelphia Oil Service Index spiked by 4.3 percent and the NYSE Arca Oil Index shot up by 2.5 percent. Significant strength was also visible among banking stocks, as reflected by the 2.5 percent surge by the KBW Bank Index. Brokerage, airline and pharmaceutical stocks also saw notable strength, while weakness among semiconductor and software stocks weighed on the tech-heavy Nasdaq. --------------------------------------------------------------- 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]( Standard & Poor's is scheduled to release its report on home prices in major metropolitan areas in the month of January at 9 am ET. At 10 am ET, the Conference Board is due to release its report on consumer confidence in the month of March. The consumer confidence index is expected to dip to 101.0 in March from 102.9 in February. Federal Reserve Vice Chair for Supervision Michael Barr is also scheduled to testify on bank oversight before the Senate Banking Committee at 10 am ET. At 1 pm ET, the Treasury Department is due to announce the results of this month?s auction of $43 billion worth of five-year notes. --------------------------------------------------------------- [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 PVH Corp. (PVH) are moving sharply higher in pre-market trading after the apparel company reported better than expected fiscal fourth quarter results and provided upbeat guidance. Chinese e-commerce giant Alibaba (BABA) is also likely to see initial strength after announcing plans to split its business into six independently run entities. Meanwhile, shares of Fox (FOXA) may move to the downside after Bank of American downgraded its rating on the company?s stock to Neutral from Buy. --------------------------------------------------------------- [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 are seeing modest gains on Tuesday amid easing concerns over the banking system and on the eve of testimony to Parliament about Silicon Valley Bank by the governor of the Bank of England. Investors shrugged off survey results from the statistical office Insee showing that French manufacturers' confidence slightly worsened in March for the first time in four months. The manufacturing confidence index dropped to 104 in March from 105 in the previous month as the balance of opinion regarding the change in past and future output decreased. The expected score was 103. Elsewhere, U.K. shop prices logged another record increase in March due to the historical growth in food and non-food prices, data from the British Retail Consortium showed earlier today. The BRC- NielsenIQ shop price index increased 8.9 percent on a yearly basis in March, faster than the 8.4 percent rise in February. The annual growth was primarily driven by another record 15.0 percent spike in food prices. Non-food prices also posted a record gain of 5.9 percent. While the U.K.?s FTSE 100 Index has crept up by 0.1 percent, the German DAX Index and the French CAC 40 Index are both up by 0.2 percent. UBS has risen after CEO Ralph Hamers reportedly said the Swiss lender views its government-orchestrated takeover of Credit Suisse Group as a growth opportunity. German drug discovery firm Evotec has also jumped after reporting a 22 percent rise in full-year preliminary revenues. Construction equipment manufacturer Wacker Neuson has also advanced after saying it expects demand to remain high in 2023. On the other hand, British online supermarket Ocado has tumbled after keeping its profit guidance for the full year. Beverage firm Diageo has also moved to the downside on news that CEO Ivan Menezes will retire at the end of June. Commercial kitchen supplier Rational AG has also slumped despite posting a significant increase in fiscal year 2022 revenue. --------------------------------------------------------------- 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]( Asian stocks advanced on Tuesday as concerns over the banking crisis eased and China's top leaders pledged to keep embracing foreign capital despite economic and geopolitical headwinds. Chinese stocks underperformed after reports that the government will probe over 30 state-owned firms to weed out corruption. Disappointing earnings from the likes of Sinopec and China Hongqiao Group also weighed on sentiment. The benchmark Shanghai Composite Index slipped 0.2 percent to 3,245.38, while Hong Kong's Hang Seng Index rallied 1.1 percent to 19,784.65, aided largely by gains in the technology sector. Japanese shares edged up slightly after the country's cabinet approved the use of some funds from the fiscal 2022 budget for measures to cushion the impact of inflation. The Nikkei 225 Index rose 0.2 percent to 27,518.25, while the broader Topix closed 0.3 percent higher at 1,966.67. Seoul stocks rallied, with the Kospi settling 1.1 percent higher at 2,434.94 on easing banking woes. Following assurances from central bank officials, governments and regulators, investors remained convinced that the recent banking fiasco wouldn't lead to a large-scale financial crisis. Tech heavyweights Samsung Electronics and SK Hynix jumped 1.3 percent and 3.4 percent, respectively. Australian markets rose sharply after data showed the country's retail sales grew slightly more than expected in February. The benchmark S&P ASX 200 Index jumped 1.0 percent to 7,034.10, marking its best single-day gain in nine sessions. The broader All Ordinaries Index ended 1.1 percent higher at 7,219.40, led by banks, lithium miners and energy stocks. Santos surged 3.1 percent and Woodside Energy Group soared 4.8 percent after oil prices rose more than $3 a barrel Monday on signs of tighter supply. Battery metals explorer Liontown Resources soared 68.5 percent after rejecting an unsolicited takeover offer from top lithium producer Albemarle Corp. Pilbara Minerals surged 11.9 percent and Allkem rallied 13.7 percent. Across the Tasman, New Zealand's benchmark S&P NZX-50 Index shot up 1.4 percent to 11,771.27. --------------------------------------------------------------- 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 inching up $0.06 to $72.87 a barrel after soaring $3.55 to $72.81 a barrel on Monday. Meanwhile, after plunging $30 to $1,953.80 an ounce in the previous session, gold futures are climbing $10.80 to $1,964.60 an ounce. On the currency front, the U.S. dollar is trading at 130.62 yen compared to the 131.57 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0843 compared to yesterday?s $1.0798. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. 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