Futures Pointing To Initial Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 21 July 2023 09:41:21 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( Breaking: Price of Gold & Silver set to EXPLODE in 2023! Read Now... Attention investors and retirement savers...Investment experts and even mainstream news publications are predicting a windfall for gold and silver prices in 2023! This could be the year we see the value of precious metals like gold and silver EXPLODE! You won't want to miss out! [Reserve Your FREE Gold & Silver Kit 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 Friday, with stocks likely to move to the upside following the mixed performance seen in the previous session. Traders may look to pick up tech stocks at somewhat reduced levels following the sharp pullback seen by the Nasdaq during Thursday?s trading. The markets may also benefit from recent upward momentum, which has contributed to a nine-session winning streak for the Dow and lifted the major averages to their best levels in over a year. Overall trading activity is likely to be somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines. Some traders may also be reluctant to make significant moves ahead of the Federal Reserve?s highly anticipated monetary policy meeting next week. With the Fed widely expected to raise interest rates by another 25 basis point, traders are likely to pay close attention to the accompanying statement for clues about the outlook for rates. Recent encouraging inflation data has led to optimism next week?s rate hike will be the last, and traders will be looking for confirmation from the Fed. After generally moving higher over the past several sessions, the major U.S. stock indexes turned in a starkly mixed performance during trading on Thursday. While the Dow closed higher for the ninth straight session, reaching its best closing level in over a year, the tech-heavy Nasdaq pulled back sharply following recent strength. The Dow ended the session well off its best levels of the day but still closed up 163.97 points or 0.5 percent at 35,225.18, while the Nasdaq plunged 294.71 points or 2.1 percent to 14,063.31 and the S&P 500 slid 30.85 points or 0.7 percent to 4,354.87. The sharp pullback by the Nasdaq came amid a negative reaction to earnings news from companies like Netflix (NFLX) and Tesla (TSLA). Shares of Netflix plummeted by 8.4 percent after the streaming giant reported better than expected second quarter earnings but weaker than expected revenues. Electric car maker Tesla also plunged by 9.7 percent after reporting second quarter earnings and revenues that exceeded analyst estimates but a notable decrease in operating margins. On the other hand, the narrower Dow benefitted from a spike by shares of Johnson & Johnson (JNJ), with the healthcare giant surging by 6.1 percent. The jump by J&J came after the company reported better than expected second quarter earnings and raised its full-year guidance. Dow component IBM Corp. (IBM) also shot up by 2.1 percent after the tech giant reported second quarter earnings that beat expectations. Traders were also reacting to a Labor Department report showing first-time claims for U.S. unemployment benefits unexpectedly dipped in the week ended July 15th. The report said initial jobless claims slipped to 228,000, a decrease of 9,000 from the previous week's unrevised level of 237,000. Economists had expected jobless claims to inch up to 242,000. Semiconductor stocks turned in some of the worst performances on the day, with the Philadelphia Semiconductor Index plunging by 3.6 percent. The index continued to give back ground after ending Tuesday's trading at its best closing level in over a year. Shares of Taiwan Semiconductor (TSM) plummeted by 5.1 percent after the chipmaker reported a steep drop in second quarter profits. Substantial weakness was also visible among gold stocks, as reflected by the 2.9 percent nosedive by the NYSE Arca Gold Bugs Index. The sell-off by gold stocks came amid a modest decrease by the price of the precious metal. Housing stocks also moved sharply lower following disappointing existing home sales data, dragging the Philadelphia Housing Sector Index down by 2.4 percent. Software, retail and airline stocks also saw considerable weakness, while pharmaceutical and healthcare stocks rallied following J&J's upbeat results. --------------------------------------------------------------- Do you day trade? 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[Click here for full details and to join for free.]( --------------------------------------------------------------- Stocks in Focus Shares of Scholastic (SCHL) are moving sharply higher in pre-market trading after the publisher reported better than expected fiscal fourth quarter earnings and increased its stock repurchase by $100 million. Financial services company Capital One (COF) may also move to the upside after reporting second quarter earnings that exceeded analyst estimates. Meanwhile, shares of American Express (AXP) are likely to see initial weakness after the credit card giant reported better than expected second quarter earnings but weaker than expected revenues. Railroad operator CSX Corp. (CSX) may also come under pressure after reporting second quarter reveues that fell short of expectations. --------------------------------------------------------------- [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 turning in a mixed performance on Friday after three consecutive sessions of gains. Caution has crept in ahead of a busy week of central bank meetings that could see the end of the U.S. tightening cycle. The euro traded close to weekly lows against the dollar, while bond yields eased somewhat after spiking in the previous session after the release of U.S. weekly jobless claims data. In economic news, U.K. retail sales advanced 0.7 percent month-on-month in June, faster than the 0.1 percent rise in May, official data showed earlier in the day. This was also faster than economists' forecast of 0.2 percent. On a yearly basis, retail sales posted a decline of 1.0 percent after a 2.3 percent slump in May. Economists had forecast an annual decrease of 1.5 percent. Separate data showed the U.K. budget deficit narrowed in June but remained the third highest for the month since records began in 1993. While the German DAX Index is down by 0.5 percent, the French CAC 40 Index is up by 0.2 percent and the U.K.?s FTSE 100 Index is up by 0.3 percent. Swedish steelmaker SSAB has plunged after its operating profit halved in the second quarter. Peers Salzgitter, ArcelorMittal and ThyssenKrupp have also move to the downside. Lonza has also plummeted. The Swiss contract drug manufacturer lowered its 2023 sales and earnings targets after posting mixed first-half results. Shares of Close Brothers have also fallen. The financial services company has issued its scheduled pre-close trading update ahead of its 2023 financial year end. SAP has also tumbled a day after the German business software maker posted cloud revenue growth below analysts' expectations. On the other hand, Danske Bank, Denmark's largest lender, has moved notably higher after raising its full-year profit guidance. Sartorius Stedim Biotech has also rallied in Paris. The biopharmaceutical solutions provider confirmed its fiscal 2023 forecast despite uncertainties that remain high due to global political and economic situation. --------------------------------------------------------------- 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 ended on a muted note Friday as fresh U.S. labor market data spurred concerns that the Federal Reserve will keep interest rates higher for longer to rein inflation. Investors also looked ahead to central bank meetings in the U.S., Europe and Japan next week for further clues on the rate outlook. The dollar index was little changed and Treasury yields slipped slightly as investors expressed hopes for a Fed rate pause after a 25 basis point rate hike expected next week. Gold headed for a third consecutive weekly gain, while oil prices were on course for a fourth consecutive weekly gain amid signs of falling crude inventories and lower Russian oil exports. China's onshore yuan traded higher after the country's central bank set a much stronger guidance rate than expected. China's Shanghai Composite Index fluctuated before finishing marginally lower despite the government pledging to make the private economy "bigger, better and stronger" with a series of policy measures. Concerns grew over the health of Chinese property developers after rating agencies sent stark warnings about Wanda Commercial, China's biggest commercial real estate firm. Hong Kong's Hang Seng Index climbed 0.8 percent to 19,075.26 after a choppy session. Japanese stocks fell for a second straight session, with chip-related shares leading losses. Advantest, Tokyo Electron and Screen Holdings lost 5-6 percent after Taiwan Semiconductor Manufacturing Co. cut its sales outlook for this year. The Nikkei 225 Index dropped 0.6 percent to 32,304.25 while the broader Topix Index settled marginally higher at 2,262.20. The yen held steady after data showed Japan's inflation may have peaked. Motor maker Nidec soared 10.4 percent after its first-quarter net profit rose 55 percent from a year earlier. Drug maker Daiichi Sankyo gained 1.7 percent after its blood cancer treatment got approval from the U.S. health regulator. Peers Takeda Pharmaceutical and Chugai Pharmaceutical rallied 1.8 percent and 1.4 percent, respectively. Seoul stocks eked out modest gains, with the Kospi rising 0.4 percent to 2,609.76. Australian markets ended a tad lower as tech stocks succumbed to selling pressure on fears of further tightening by the Federal Reserve. Afterpay owner Block gave up 2.1 percent, WiseTech Global fell 2.4 percent and Xero lost 3.9 percent. Gold miners also fell heavily, with Newcrest plummeting 5.3 percent after potential buyer Newmont posted weak second-quarter earnings. The benchmark S&P/ASX 200 Index slipped 0.2 percent to 7,313.90, while the broader All Ordinaries Index closed 0.2 percent lower at 7,526.80. --------------------------------------------------------------- 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 jumping $1.10 to $76.75 a barrel after rising $0.36 to $75.65 a barrel on Thursday. Meanwhile, after falling $9.90 to $1,970.90 an ounce in the previous session, gold futures are slipping $3.70 to $1,967.20 an ounce. On the currency front, the U.S. dollar is trading at 141.45 yen versus the 140.07 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1121 compared to yesterday?s $1.1130. --------------------------------------------------------------- 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