U.S. Stocks May Give Back Ground In Early Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 21 November 2023 09:03:34 [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 lower open on Tuesday, with stocks likely to give back ground after moving mostly higher over the course of the previous session. Traders may look to cash in on the recent strength in the markets, which has lifted the major averages to their best levels in over three months. A negative reaction to some of the latest earnings news from major retailers may also weigh on Wall Street, with shares of Lowe?s (LOW) moving sharply lower in pre-market trading. The drop by Lowe?s comes after the home improvement retailer reported weaker than expected fiscal third quarter revenues and lowered its full-year sales forecast. Consumer electronics retailer Best Buy (BBY) may also come under pressure after reporting fiscal third quarter revenues that missed estimates and cutting its full-year sales outlook. On the other hand, shares of Dick?s Sporting Goods (DKS) are likely to see initial strength after the sporting goods retailer reported better than expected fiscal third quarter results and raised its full-year guidance. Overall trading activity may be somewhat subdued, however, as traders look ahead to the release of the minutes of the Federal Reserve?s latest monetary policy meeting this afternoon. Traders will be looking for the minutes to reinforce recent optimism that the Fed is done raising interest rates in its battle against inflation. Following the lackluster performance seen to close out the previous week, stocks moved mostly higher during trading on Monday. The tech-heavy Nasdaq led the advance, reaching its best closing level since late July. The major averages pulled back off their highs going into the close but remained firmly positive. The Nasdaq jumped 159.05 points or 1.1 percent to 14,284.53, the S&P 500 climbed 33.36 points or 0.7 percent to 4,547.38 and the Dow rose 203.76 points or 0.6 percent to 35,151.04. The strength on Wall Street partly reflected recent upward momentum, which comes amid ongoing optimism about the outlook for interest rates. Recent data showing signs of easing inflation has reinforced investor expectations that the Federal Reserve will leave rates unchanged at upcoming meetings. CME Group's FedWatch Tool currently indicates the Fed is likely to remain on hold until cutting rates beginning in mid-2004. Potentially shedding additional light on the outlook for rates, the Fed is due to release the minutes of its latest monetary policy meeting on Tuesday. Stocks saw further upside in afternoon trading, as treasuries yields pulled back following the release of the results of the Treasury Department's auction of $16 billion worth of twenty-year bonds. However, overall trading activity this week may be somewhat subdued due to the Thanksgiving Day holiday on Thursday. The Conference Board released a report this morning showing its reading on leading U.S. economic indicators fell by more than expected in the month of October. The report said the leading economic index slid by 0.8 percent in October after falling by 0.7 percent in September. Economists had expected the index to decrease by 0.6 percent. Tobacco stocks showed a substantial move to the upside on the day, with the NYSE Arca Tobacco Index soaring by 4.2 percent to its best closing level in well over three months. Significant strength also emerged among software stocks, as reflected by the 1.8 percent gain posted by the Dow Jones U.S. Software Index. Shares of Microsoft (MSFT) jumped by 2.1 percent after CEO Satya Nadella revealed OpenAI co-founder and former CEO Sam Altman will be joining the software giant to lead a new advanced AI research team. Airline stocks also saw considerable strength, driving the NYSE Arca Airline Index up by 1.6 percent to a two-month closing high. Semiconductor, computer hardware and networking stocks also saw notable strength, contributing to the surge by the tech-heavy Nasdaq. --------------------------------------------------------------- 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 National Association of Realtors is due to release its report on existing home sales in the month of October at 10 am ET. Existing home sales are expected to decrease to an annual rate of 3.90 million in October after falling to a rate of 3.96 million in September. At 2 pm ET, the Federal Reserve is scheduled to release the minutes of its monetary policy meeting held October 31-November 1. --------------------------------------------------------------- [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 American Eagle Outfitters (AEO) are moving sharply lower in pre-market trading even though the apparel and accessories retailer reported fiscal third quarter results that exceeded analyst estimates on both the top and bottom lines. Department store operator Kohl?s (KSS) is also likely to see initial weakness after reporting fiscal third quarter revenues that fell short of analyst estimates. Meanwhile, shares of Medtronic (MDT) may move to the upside after the medical technology company reported better than expected fiscal second quarter results and raised its full-year profit forecast. --------------------------------------------------------------- [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 mostly lower on Tuesday ahead of the release of the Federal Reserve's minutes from its latest meeting and Nvidia's earnings. The U.K.?s FTSE 100 Index is down by 0.6 percent and the French CAC 40 Index is down by 0.4 percent, although the German DAX Index is just above the unchanged line. Crude prices have fallen on demand concerns, weighing on the energy sector. BP Plc and Shell are both down around 1 percent. Monte dei Paschi di Siena has also moved sharply lower after Italy sold a 25 percent stake in the bailed-out bank. On the other hand, Swiss hearing aid maker Sonova has soared despite lowering its annual core profit forecast. CRH, a provider of building materials solutions, has also risen in London after it agreed to acquire a cement plant and 20 ready mixed concrete plants in Texas from Martin Marietta Materials, Inc. for $2.1 billion. Cranswick shares have also jumped after the meat producer said it sees annual profit at the upper end of market view. --------------------------------------------------------------- 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 mixed on Tuesday, while gold gained on a weaker dollar and softening bond yields amid expectations that the Federal Reserve may be done hiking interest rates. The dollar languished near its lowest level in two-and-a-half months as investors looked forward to minutes from Federal Reserve's latest meeting for more clarity on the interest rate outlook. Oil prices slipped on demand worries after seeing sharp gains in the previous two sessions on optimism that major oil producers could discuss deepening output cuts when they meet later this month. China's Shanghai Composite Index finished marginally lower at 3,067.93 after a choppy session. Hong Kong's Hang Seng Index settled down 0.3 percent at 17,733,89, giving up earlier gains on reports Chinese regulators are drafting a list of 50 real estate developers eligible for a range of funding. Japanese shares ended slightly lower as shares of automakers fell on a stronger yen. The Nikkei 225 Index edged down 0.1 percent to 33,354.14 after reaching its highest level since 1990 on Monday. The broader Topix Index eased 0.2 percent to close at 2,367.79. Honda, Toyota, Nissan, Mazda and Mitsubishi Motors tumbled 1-4 percent as the dollar slipped to a fresh milestone low against major currencies. GS Yuasa slumped 10.8 percent after the battery maker announced plans to raise up to 47.2 billion yen ($315.47 million) through the sale of new shares third-party allotment to Honda Motor. Panel display maker Sharp soared 9.5 percent to top the gainers list. Seoul stocks rose notably ahead of earnings from Nvidia and other U.S. tech firms this week. The Kospi climbed 0.8 percent to 2,510.42. Australian markets eked out modest gains after the release of the RBA's November meeting minutes and comments from Governor Michele Bullock that inflation will be the major challenge for the economy over the next two years. The benchmark S&P ASX 200 Index rose 0.3 percent to 7,078.20, while the broader All Ordinaries Index ended up 0.3 percent at 7,289.30. Mining heavyweights BHP and Rio Tinto rose 1.4 percent and 1.9 percent, respectively. Across the Tasman, New Zealand's benchmark S&P NZX-50 Index dropped 0.4 percent to 11,164.42. --------------------------------------------------------------- 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 falling $0.51 to $77.32 a barrel after jumping $1.79 to $77.83 a barrel on Monday. Meanwhile, after slipping $4.40 to $1,980.30 an ounce in the previous session, gold futures are climbing $16.60 to $1,996.90 an ounce. On the currency front, the U.S. dollar is trading at 147.60 yen compared to the 148.39 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0948 compared to yesterday?s $1.0940. --------------------------------------------------------------- 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