U.S. Stocks May See Initial Strength As Fed Decision Looms

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 24 July 2023 09:22:36 [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 modestly higher open on Monday, with stocks likely to move to the upside after ending last Friday?s trading narrowly mixed. The markets may continue to benefit from recent upward momentum, which has contributed to a ten-day winning streak for the Dow. The recent strength lifted all three major averages to their best levels in over a year last week, although the Nasdaq and S&P 500 have pulled back off their highs. Overall trading activity is likely to remain subdued, however, as traders look ahead to the Federal Reserve?s monetary policy decision on Wednesday. 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 this week?s rate hike will be the last, and traders will be looking for confirmation from the Fed. Following the mixed performance seen during Thursday's session, stocks showed a lack of direction throughout much of the trading day on Friday. The major averages spent the day bouncing back and forth across the unchanged line. The major averages eventually ended the day narrowly mixed. While the Nasdaq slipped 30.50 points or 0.2 percent to 14,032.81, the Dow inched up 2.51 points or less than a tenth of a percent to 35,227.69 and the S&P 500 crept up 1.47 points or less than a tenth of a percent to 4,536.34. With the uptick, the Dow closed higher for the tenth straight session and surged 2.1 percent for the week. The S&P 500 also climbed by 0.7 percent for the week, while the Nasdaq fell by 0.6 percent. The choppy trading on Wall Street came as traders seemed reluctant to make significant moves ahead of the Federal Reserve's highly anticipated monetary policy meeting. A lack of major U.S. economic data also kept traders on the sidelines following the release of several key reports earlier in the week. Among individual stocks, shares of American Express (AXP) moved sharply lower after the credit card giant reported better than expected second quarter earnings but weaker than expected revenues. Railroad operator CSX Corp. (CSX) also came under pressure after reporting second quarter revenues that fell short of expectations. Meanwhile, shares of Scholastic (SCHL) surged after the publisher reported better than expected fiscal fourth quarter earnings and increased its stock repurchase by $100 million. Most of the major sectors ended the day only modest moves on the day, contributing to the lackluster close by the broader markets. Interest rate-sensitive utilities stocks showed a strong move to the upside, however, with the Dow Jones Utility Average climbing by 1.3 percent to a two-month closing high. Notable strength was also visible among airline stocks, as reflected by the 1.1 percent gain posted by the NYSE Arca Airline Index. Healthcare, oil and semiconductor stocks also saw some strength on the day, while tobacco and banking stocks moved to the downside. --------------------------------------------------------------- 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]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Treasury Department is scheduled to announce the results of this month?s auction of $42 billion worth of two-year notes at 1 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 AMC Entertainment (AMC) are skyrocketing in pre-market trading as the movie theater chain said it has filed a revised stock-conversion proposal after a judge denied a settlement related to an earlier version of the plan. E-commerce company Shopify (SHOP) may also see initial strength after MoffettNathanson upgraded its rating on the company?s stock to Outperform from Market Perform. Meanwhile, shares of American Express (AXP) may see further downside after Piper Sandler downgraded its rating on the credit card giant?s stock to Underweight from Neutral. --------------------------------------------------------------- [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 subdued on Monday, with weak Eurozone business activity data and an inconclusive election result in Spain keeping investors nervous. The HCOB Flash Eurozone Composite PMI Output Index, which gauges activity in the manufacturing and services sector, fell to an eight-month low of 48.9 in July from 49.9 in June. French and German PMI data also came in weaker than expected, raising fears of a recession. In the U.K., the S&P Global/CIPS composite Purchasing Managers' Index showed a preliminary reading of 50.7, down from 52.8 in June. Investors also looked ahead to key central bank meetings and earnings from tech giants including Meta, Microsoft and Alphabet due this week for directional cues. While the German DAX Index has edged down by 0.1 percent, the U.K.?s FTSE 100 Index is down by 0.3 percent and the French CAC 40 Index is down by 0.5 percent. In corporate news, Danish biotech company Bavarian Nordic has plummeted after saying that it was ending its respiratory syncytial virus (RSV) vaccine program, following poor trial results. S4 Capital has also plunged after the digital advertising and marketing-services firm cut its annual revenue growth and core profit margin forecasts, citing challenging macroeconomic conditions and cautious clients. On the other hand, Swiss wealth manager Julius Baer has shown a substantial move to the upside after reporting strong earnings. British online grocer Ocado has also jumped after settling a three-year intellectual property dispute with Norwegian robotics company AutoStore Holdings. Telecom company Vodafone has also surged after reporting better revenue growth in the first quarter and naming a new CFO. Alstom has also risen in Paris. The French rolling stock maker and RAILPOOL, a German rolling stock leasing firm, have signed a contract worth up to 260 million euros for 50 Traxx Universal multi-purpose locomotives. --------------------------------------------------------------- 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 closed mostly higher on Monday amid bets that the U.S. Federal Reserve will pause its tightening campaign after delivering a 25-basis point increase this week. Upcoming ECB and BOJ meetings also remained on investors' radar. Gold edged up slightly and the dollar was broadly steady against a basket of currencies, while oil prices fell on profit taking after last week's rally. Chinese shares edged lower as property developers tumbled on liquidity concerns. The benchmark Shanghai Composite index slipped 0.1 percent to 3,164.16. Investors also awaited the outcome of a Politburo meeting this week that might bring more measures to prop up slowing growth in the world's second largest economy. Hong Kong's Hang Seng Index plunged 2.1 percent to 18,668.15. Alibaba Group Holding shares gave up nearly 2 percent after the e-commerce giant said it does not plan to sell any shares in its one-third shareholding in financial technology company Ant Group. Japanese shares posted strong gains ahead of a Bank of Japan policy meeting this week that might not yield any major changes to the central bank's ultra-lax monetary policy stance. The Nikkei 225 Index rallied 1.2 percent to 32,700.94, while the broader Topix Index ended 0.8 percent higher at 2,281.18. A weaker yen lifted carmakers, with Honda, Toyota and Nissan climbing 2-3 percent. Chip-related shares rebounded from a two-day fall, with Advantest, Tokyo Electron and Screen Holdings gaining 2-3 percent. Investors shrugged off data showing that Japan's factory activity shrank in July constrained by weak demand. Seoul stocks rose notably, led by battery makers and steel manufacturers. The Kospi settled 0.7 percent higher at 2,628.53. POSCO Holdings soared 16.5 percent after its quarterly earnings met market expectations. Australian markets ended slightly lower as miners fell, offsetting a rally in energy stocks. The benchmark S&P/ASX 200 Index edged down 0.1 percent to 7,306.40, while the broader All Ordinaries Index closed 0.1 percent lower at 7,517.30. Lithium explorers led losses, with Core Lithium shares plunging 17.2 percent after production guidance missed expectations. Rivals Pilbara Minerals and Liontown Resources lost 5.8 percent and 3.9 percent, respectively. Rio Tinto fell 1.3 percent ahead of its earnings result due on Wednesday. South32 declined 2.6 percent after flagging a US$1.3 billion impairment. Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index climbed 0.7 percent to 12,018.23 after data showed the country eked out a small trade surplus in June. --------------------------------------------------------------- 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 $0.47 to $77.54 a barrel after surging $1.42 to $77.07 a barrel last Friday. Meanwhile, after slipping $4.30 to $1,966.60 an ounce in the previous session, gold futures are edging down $0.40 to $1,966.20 an ounce. On the currency front, the U.S. dollar is trading at 141.04 yen versus the 141.73 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1089 compared to last Friday?s $1.1124. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. 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