Futures Pointing To Initial Weakness On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Wednesday, 18 October 2023 09:20:29 [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 lower open on Wednesday, with stocks likely to move to the downside following the mixed performance seen in the previous session. A renewed increase by treasury yields may weigh on Wall Street, as the yield on the benchmark ten-year note is moving higher for the fourth straight session. With the recent advance, the ten-year yield is back near the sixteen-year highs set earlier in the month amid concerns about the outlook for interest rates. After a weak start and a subsequent recovery that resulted in a brief spell in positive territory, U.S. stocks retreated and eventually ended on a mixed note on Tuesday. Investors digested the data on U.S. retail sales and industrial production, and continued to track the developments on the geopolitical front. Data showing a bigger than expected increase in U.S. retail sales in the month of September raised concerns the Federal Reserve will keep interest rates higher for longer and might even announce a hike in rates this year. Higher bond yields hurt as well. Among the major averages, the Dow ended up 13.11 points or 0.04 percent at 33,997.65. The S&P 500 edged down 0.1 percent to 4,373.20, while the Nasdaq closed lower by 34.24 points or 0.25 percent at 13,533.75. Goldman Sachs ended lower by about 1.6 percent after the lender reported lower than expected net profit for the third quarter. Bank of America surged about 2.3 percent on stronger than expected revenue in the third quarter. Nvida ended lower by 4.7 percent, weighed down by an announcement from the Biden administration that it plans to halt shipments of advanced artificial intelligence chips to China. Shares of apparel and footwear company VF Corporation rallied 14 percent on reports that an activist investor is building a stake in the apparel stock. US Bancorp surged nearly 7 percent. Dollar Tree gained about 5 percent. Whirlpool, Bank of America, Citizens Financial, Morgan Stanley, Adobe Systems, United Airlines Holdings, Qualcomm, and Parker-Hannifin also posted strong gains. Moderna, DXC Technology, Broadcom, Goldman Sachs, Netflix and Intel ended notably lower. On the economic front, data showed U.S. retail sales advanced 0.7 percent month-on-month in September following an upwardly revised 0.8 percent increase in August. On yearly basis, retail sales increased 3.8 percent in September, the highest in seven months. In August, retail sales increased by an upwardly revised 2.9 percent. Industrial production in the U.S. went up 0.3 percent month-over-month in September, beating expectations of a flat reading. Manufacturing output, which accounts for 78 percent of total production, rose 0.4 percent, above forecasts of a 0.1 percent increase, after a 0.1 percent dip in the previous month. --------------------------------------------------------------- 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]( A report released by the Commerce Department on Wednesday showed a substantial rebound in new residential construction in the U.S. in the month of September. The Commerce Department said housing starts spiked by 7.0 percent to an annual rate of 1.358 million in September after plunging by 12.5 percent to a revised rate of 1.269 million in August. Economists had expected housing starts to jump to a rate of 1.380 million from the 1.283 million originally reported for the previous month. Meanwhile, the report said building permits tumbled by 4.4 percent to an annual rate of 1.475 million in September after surging by 6.8 percent to a revised rate of 1.541 million in August. Building permits, an indicator of future housing demand, were expected to decrease to a rate of 1.450 million from the 1.543 million originally reported for the previous month. At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended October 13th. Crude oil inventories are expected to edged down by 0.3 million barrels after jumping by 10.2 million barrels in the previous week. Federal Reserve Board Governor Christopher Waller is due to participate in a discussion on the economic outlook before the Distinguished Speaker Seminar at 12 pm ET. At 12:30 pm ET, New York Federal Reserve President John Williams is scheduled to participate in a moderated discussion at Queens College. Federal Reserve Board Governor Michelle Bowman is due to deliver opening remarks before a Fed Listens event hosted by the Federal Reserve Bank of Richmond at 1 pm ET. Also at 1 pm ET, the Treasury Department is scheduled to announce the results of this month?s auction of $13.0 billion worth of twenty-year bonds. The Federal Reserve is due to release its Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, at 2 pm ET. At 3:15 pm ET, Philadelphia Federal Reserve President Patrick Harker is due to speak on "Workforce Challenges" before a "People, Possibilities, Practice: Designing a Better Future for Workers" event. Federal Reserve Board Governor Lisa Cook is scheduled to speak on "The Evolution of the Federal Reserve's Employment Mandate" before the Louis E. Martin Awards Ceremony at the 2023 Future of Black Communities Summit at 6:55 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.]( --------------------------------------------------------------- Europe European stocks struggled for direction on Wednesday, as fears over an escalation in the Middle East conflict offset improved economic data from China. As Gaza ground invasion looms, a huge explosion at a Gaza hospital has derailed the diplomatic efforts led by the U.S. to reduce tensions in the region. On the data front, Eurostat reported that Eurozone inflation rose at a slower pace in September than in August, confirming initial estimates. Elsewhere, U.K. consumer price inflation remained elevated at 6.7 percent in September, bucking expectations for a further decline. The pan European STOXX 600 was marginally higher at 449.81 after ending marginally lower on Tuesday. The German DAX edged up 0.1 percent and France's CAC 40 rose 0.2 percent while the U.K.'s FTSE 100 was marginally lower. German sportswear firm Adidas jumped 5 after raising its 2023 revenue guidance. ABB tumbled 5.4 percent after the Swiss engineering group flagged a slowdown in revenue growth in Q4. Amsterdam-based Just Eat Takeaway.com soared 7 percent after raising its full-year adjusted EBITDA guidance. TotalEnergies climbed 1.2 percent and BP Plc rose about 1 percent as oil prices surged nearly 2 percent following Gaza hospital attack. British housebuilder Barratt Developments fell 2.5 percent after an announcement that it sees a 10 percent drop in reservation rates in Q1. Concrete-products company Marshalls jumped 6.7 percent after maintaining its full-year expectations. China-exposed luxury firms such as Richemont, LVMH, Kering and Hermes International all rose about 1 percent after a slew of China data came in above forecasts. Data showed China's GDP grew at a 4.9 percent annual pace in July-September, down from 6.3 percent in the previous quarter but above forecasts for a 4.4 percent increase. Retail sales and industrial output figures for September also surprised on the upside, helping ease investor anxiety over the attainability of the official GDP target this year. --------------------------------------------------------------- [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 cut early losses to end mixed on Wednesday after a slew of Chinese data topped forecasts. The undertone remained cautious somewhat after a deadly missile attack on Al-Ahli Baptist Hospital in Gaza killed more than 500 people including women and children. Hamas attributed the blast to an Israeli airstrike, but the Israeli military said it was not involved and the explosion was caused by a misfired Palestinian rocket. The dollar rally stalled after Chinese GDP, industrial output and retail sales data surprised on the upside. Gold rose about 1 percent amid heightened geopolitical tensions in the Middle East while crude prices jumped nearly 2 percent on supply concerns. Chinese shares fell sharply after data showed GDP grew at a 4.9 percent annual pace in July-September, down from 6.3 percent in the previous quarter but above forecasts for a 4.4 percent increase. Retail sales and industrial output figures for September also surprised on the upside, while fixed asset investment and property investment figures for the first nine months of 2023 disappointed investors. China's Shanghai Composite index fell 0.80 percent to 3,058.71 while Hong Kong's Hang Seng index slipped 0.23 percent to 17,732.52. Japanese shares reversed course to end marginally higher. The Nikkei average ended little changed at 32,042.25 while the broader Topix index settled 0.14 percent higher at 2,295.34. Oil company Inpex Corp soared 4.5 percent as a result of the jump in crude oil prices. Banks Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial climbed 1-2 percent. The Japanese yen jumped briefly earlier in the session after the Bank of Japan announced unscheduled bond purchases to stem a rise in yields. Seoul stocks fluctuated before ending flat with a positive bias after data showed China's economy gained momentum last quarter. Market bellwether Samsung Electronics surged 1.6 percent while battery makers Samsung SDI and LG Energy Solution both fell over 2 percent. Australian markets eked out modest gains, led by mining and energy stocks. The benchmark S&P/ASX 200 index rose 0.30 percent to 7.077.60 despite hawkish comments from central bank governor Michele Bullock. The broader All Ordinaries index closed 0.29 percent higher at 7,265.70. Coal miner Whitehaven Coal jumped 11.5 percent after reporting a 33 percent rise in its first-quarter production. Across the Tasman, New Zealand's benchmark S&P NZX-50 index finished marginally higher at 11,221.48. --------------------------------------------------------------- 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 jumping $1.27 to $87.93 a barrel after closing unchanged at $86.66 a barrel on Tuesday. Meanwhile, an ounce of gold is trading at $1,960, up $24.30 compared to the previous session?s close of $1,935.70. On Tuesday, gold inched up $1.40. On the currency front, the U.S. dollar is trading at 149.73 yen compared to the 149.81 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.0554 compared to yesterday?s $1.0577. --------------------------------------------------------------- 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