Futures Pointing To Initial Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 28 August 2023 09:13:13 [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 Monday, with stocks poised to add to the gains posted in the previous session. U.S. stocks started off on a firm note on Friday and despite suffering a setback around mid morning, recovered swiftly and stayed firm right till the end of the day's session to finish on a strong note. Investors reacted positively to Federal Reserve Chair Jerome Powell's remarks at the Jackson Hole Symposium. The major averages all closed on a firm note, with the tech-laden Nasdaq outperforming the other indexes. The Dow settled with a gain of 247.48 points or 0.73 percent at 34,346.90. The S&P 500 climbed 29.40 points or 0.67 percent to settle at 4,405.71, while the Nasdaq closed with a gain of 126.67 points or 0.94 percent at 13,590.65. The Dow shed 0.4 percent in the week. The S&P 500 and the Nasdaq gained 0.2 percent and 1.1 percent in the week, after posting losses in the previous three weeks. Fed Chair Powell reiterated the central bank's target of 2 percent inflation, and called it "challenging" to know when monetary policy is restrictive enough to "know in real time when such a stance has been achieved." "There are some challenges that are common to all tightening cycles," Powell claimed. "For example, real interest rates are now positive and well above mainstream estimates of the neutral policy rate." "We see the current stance of policy as restrictive, putting downward pressure on economic activity, hiring, and inflation," he continued. "But we cannot identify with certainty the neutral rate of interest, and thus there is always uncertainty about the precise level of monetary policy restraint." Consumer discretionary, technology and energy stocks were among the prominent gainers. Boeing climbed nearly 3 percent. Intel gained about 2.1 percent and Salesforce.com advanced nearly 2 percent. Visa, Nike, Caterpillar, Apple, IBM, Walt Disney and Microsoft gained 1 to 1.3 percent. Cisco Systems, Johnson & Johnson, McDonalds, Merck and P&G also closed notably higher. Affirm Holdings shares soared nearly 29 percent after the company reported better-than-expected quarterly results. Shares of Workday Inc. rallied 5.4 percent after the company reported second-quarter earnings of $78.66 million, as against a loss of $64.16 million in the second quarter of the previous financial year. --------------------------------------------------------------- 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 due to announce the results of this month?s auction of $45 billion worth of two-year notes at 11:30 am ET. At 1 pm ET, the Treasury Department is scheduled to announce the results of this month?s auction of $46 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.]( --------------------------------------------------------------- Europe European stocks advanced on Monday despite U.S. Federal Reserve's hawkish stance on interest rates and the darkening economic outlook. On Friday, Fed Chair Jerome Powell signaled that rates may rise further but the Fed will "tread carefully." Futures imply around an 80 percent chance of a steady outcome at the Sept. 20 meeting, but a 58 percent probability of a hike by year end. The pan European STOXX 600 was up 0.6 percent at 453.95 after posting its first weekly gain in four. The German DAX rose half a percent and France's CAC 40 climbed 0.7 percent while the U.K.'s markets were closed for a summer bank holiday. Biopharmaceutical major Novartis AG advanced 1.5 percent after its unit Sandoz completed acquiring the worldwide brand rights of the antifungal agent Mycamine from Japan's Astellas Pharma. Banks Commerzbank, Deutsche Bank, BNP Paribas and Societe Generale jumped 1-2 percent after ECB President Christine Lagarde on Friday emphasized that policy needed to be restrictive. Figures on EU inflation this week may offer further clues on whether the European Central Bank decides to hike next month. China-exposed automaker Renault climbed 1.6 percent after China announced new measures to its struggling stock market. French luxury heavyweights LVMH, Kering and Hermes International all rose about 1 percent on China demand optimism. Valneva SE, a specialty vaccine company, rose nearly 2 percent after reporting positive initial Phase 3 safety data in adolescents for its single-dose chikungunya virus vaccine candidate VLA1553. --------------------------------------------------------------- [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 shares advanced on Monday as investors cheered China's stimulus to ease market unrest and drive economic growth. Chinese authorities announced a slew of measures over the weekend to bolster the country's equity markets and fuel an increase in spending. The measures included a 50 percent reduction in stamp duty on stock trades and a slower pace of initial public offerings. China's securities regulator also approved the launch of 37 retail funds. Meanwhile, investors shrugged off data showing that profits at China's industrial firms extended a slump into a seventh month. The dollar fell against a basket of currencies ahead of key U.S. jobs and inflation readings due this week. Gold was little changed, defying Fed Chair Jerome Powell's hawkish tone on interest rates. Oil prices edged higher as China's latest stimulus measures helped to alleviate fuel demand concerns. Chinese shares climbed after authorities cut stamp duty and margin ratios for leveraged trades. The benchmark Shanghai Composite index settled 1.13 percent higher at 3,098.64. Hong Kong's Hang Seng index rose 0.97 percent to 18,130.74. China Evergrande Group shares plummeted almost 79 percent as trading resumed following a 17-month suspension. According to its 2023 interim report, the property developer's net loss for the six-month period stood at $5.4 billion. Japanese shares rallied, underpinned in part by the persistent weakness of the yen. The yen hovered close to its lowest in over nine months after Bank of Japan Governor cited inflation concerns to support ultra-easy monetary policy. The Nikkei average jumped 1.73 percent to 32,169.99 while the broader Topix index closed 1.47 percent higher at 2,299.81. Air-conditioning maker Daikin Industries topped the gainers list to rally 4.2 percent while Fast Retailing and Toyota Motor both rose about 2 percent. Tourism-related stocks underperformed amid lingering worries about China's ban on Japanese seafood. Seoul stocks ended higher after comments from Powell suggested that the Fed would likely leave interest rates unchanged in September. The Kospi average gained 0.96 percent to finish at 2,543.41. Korea Electric Power Corp, LG Energy Solution, Amorepacific and POSCO Holdings gained 1-3 percent. Australian markets rose, with retailers surging after data showed retail sales rose more than expected in July despite higher borrowing costs. The benchmark S&P/ASX 200 rose 0.63 percent to 7,159.80 while the broader All Ordinaries index closed up 0.45 percent at 7,365.90. Tabcorp Holdings shares jumped 5 percent, while Harvey Norman, Flight Centre and Wesfarmers all rose about 2 percent. Across the Tasman, New Zealand's benchmark S&P NZX-50 index finished marginally higher at 11,479.01. --------------------------------------------------------------- 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 edging down $0.05 to $79.78 a barrel after climbing $0.78 to $79.83 a barrel last Friday. Meanwhile, after falling $7.20 to $1,939.90 an ounce in the previous session, gold futures are inching up $2.90 to $1,942.80 an ounce. On the currency front, the U.S. dollar is trading at 146.53 yen versus the 146.44 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0807 compared to last Friday?s $1.0796. --------------------------------------------------------------- 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