U.S. Stocks May Lack Direction In Light Post-Holiday Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 24 November 2023 09:37:57 [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 roughly flat open on Friday, with stocks likely to show a lack of direction as trading resumes following the Thanksgiving Day holiday on Thursday. Traders may remain away from their desks following yesterday?s holiday, as the markets are due to close earlier than usual. A lack of major U.S. economic data may also keep some traders on the sidelines ahead of next week?s reports on new home sales, consumer confidence, pending home sales, manufacturing activity and more. The Commerce Department?s report on personal income and spending may be in the spotlight next week, as it includes readings on inflation said to be preferred by the Federal Reserve. The Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, may also attract attention next week along with remarks by Fed Chair Jerome Powell. Traders will be looking for additional clues about the outlook for interest rates, with optimism the Fed is done raising rates contributing to recent strength on Wall Street. Following the pullback seen during Tuesday?s session, stocks moved back to the upside during trading on Wednesday. The major averages gave back ground after an early surge but managed to remain in positive territory. The Dow advanced 184.74 points or 0.5 percent to35,273.03 and the S&P 500 climbed 18.43 points or 0.4 percent to 4,556.62, reaching their best closing levels in over three months, while the Nasdaq rose 65.88 points or 0.5 percent to 14,265.86. The strength on Wall Street came as continued optimism about the outlook for interest rates contributed to renewed buying interest following the pullback on Tuesday. While the minutes of the latest Federal Reserve meeting failed to provide any indications the central bank plans to cut interest rates in the near future, CME Group's FedWatch Tool still suggests the next move will be a rate cut in mid-2024. Stocks may also have benefitted from easing concerns about the conflict in the Middle East after Hamas and Israel agreed to a Qatar-mediated pause in fighting. Trading activity was somewhat subdued, however, as some traders looked to get a head start on the Thanksgiving Day holiday on Thursday. On the U.S. economic front, the Labor Department released a report showing first-time claims for unemployment benefits fell by more than expected in the week ended November 18th. The report said initial jobless claims fell to 209,000, a decrease of 24,000 from the previous week's revised level of 233,000. Economists had expected jobless claims to dip to 225,000 from the 231,000 originally reported for the previous week. A separate report released by the Commerce Department showed new orders for U.S. manufactured durable goods pulled back by much more than expected in the month of October. The Commerce Department said durable goods orders plunged by 5.4 percent in October after surging by 4.6 percent in September. Economists had expected durable goods orders to tumble by 3.1 percent. The sharp pullback in durable goods orders came as orders for transportation equipment plummeted by 14.8 percent in October after spiking by 11.6 percent in September. Excluding the steep drop in orders for transportation equipment, durable goods orders were virtually unchanged in October after edging up by 0.2 percent in September. Ex-transportation orders were expected to inch up by 0.1 percent. The University of Michigan also released revised data showing consumer sentiment in the U.S. deteriorated by less than previously estimated in the month of November The University of Michigan said its consumer sentiment index for November was upwardly revised to 61.3 from a preliminary reading of 60.4. The upwardly revised reading is well above economist estimates for 60.5 but is still down from 63.8 in October. Retail stocks saw considerable strength on the day, with the Dow Jones U.S. Retail Index climbing by 1.1 percent to its best closing level in well over a year. Notable strength was also visible among airline stocks, as reflected by the 1.0 percent gain posted by the NYSE Arca Airline Index. Networking and software stocks also saw some strength, while most of the other major sectors showed more modest moves. --------------------------------------------------------------- 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]( No major U.S. economic data is scheduled to be released today. --------------------------------------------------------------- [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 are little changed on Friday as Treasury yields edge up on uncertainty about the interest rate outlook. The euro has strengthened and regional bond yields have edged higher after Bundesbank President Joachim Nagel said the European Central Bank must resist any temptation to cut interest rates early. Nagel also said he was "skeptical" about the risk of a ?hard landing? for the euro zone economy caused by the monetary policy squeeze. Elsewhere, the Bank of England's chief economist Huw Pill told the Financial Times that it was too early to declare victory in the battle against high inflation. In economic news, official data showed the German economy contracted slightly in the third quarter compared with the previous three months. GDP declined 0.1 percent sequentially, confirming a first estimate published in late October as the country languishes in a likely recession. The German lfo business climate index rose to 87.3 in November versus 87.5 expected. GfK's consumer confidence index improved this month despite the ongoing cost-of-living concerns. While the U.K.?s FTSE 100 Index is down by 0.4 percent, the German DAX Index and the French CAC 40 Index are both up by 0.1 percent. Barclays has edged up slightly after reports that the lender is mulling cutting around 2,000 jobs as part of plans to cut costs by as much as £1 billion ($1.3 billion) over several years. Continental AG and Forvia have also moved to the upside after Barclays upgraded shares of the automotive parts makers to "overweight". On the other hand, telematics and data technology specialist Trakm8 Holdings has tumbled after reporting its half-year results. China-related LVMH, Hermes and Kering are also moving lower after Chinese wealth manager Zhongzhi Enterprise Group told investors it is heavily insolvent with up to $64 billion in liabilities. --------------------------------------------------------------- [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 turned in a mixed performance on Friday, with Chinese and Hong Kong markets underperforming after wealth manager Zhongzhi Enterprise Group told investors it is heavily insolvent with up to $64 billion in liabilities. Trading volumes were muted due to a holiday in the U.S. for Thanksgiving. The dollar ticked lower in Asian trading, while Treasury yields climbed on expectations that U.S. interest rates will remain elevated. Gold was little changed but poised for a second weekly gain. Oil prices were on course to post a weekly gain on hopes of OPEC+ supply cuts. China's Shanghai Composite Index dropped 0.7 percent to 3,040.97, with property stocks in focus on hopes for more supportive policy measures. Beijing prepared a whitelist of developers that would have easy access to financing. Hong Kong's Hang Seng Index tumbled 2.0 percent to 17,559.42. Chow Tai Fook Jewlery plunged nearly 11 percent after revenue in mainland China dropped during the first half of fiscal 2024. Japanese stocks rose in catch-up trading after a holiday on Thursday. The Nikkei 225 Index pared early gains to end 0.5 percent higher at 33,625.53 after the release of weaker-than-expected consumer inflation data for October. The broader Topix Index settled 0.5 percent higher at 2,390.94 as a weaker yen bolstered exporters' stocks. Automakers Honda Motor, Nissan, Toyota and Mazda Motor climbed 2-3 percent. Seoul stocks ended notably lower, with the Kospi finishing down 0.7 percent at 2,496.63. Australian markets edged up slightly, with miners, banks and energy stocks leading the uptick. The benchmark S&P/ASX 200 Index rose 0.2 percent to 7,040.80, while the broader All Ordinaries Index settled 0.1 percent higher at 7,244.10. Across the Tasman, New Zealand's benchmark S&P/NZX-50 Index ended up 0.2 percent at 11,211.22. --------------------------------------------------------------- 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 sliding $0.65 to $76.45 a barrel after falling $0.67 to $77.10 a barrel on Wednesday. Meanwhile, after slipping $8.80 to $1,992.80 an ounce in the previous session, gold futures are inching up $4.30 to $1,997.10 an ounce. On the currency front, the U.S. dollar is trading at 149.59 yen versus the 149.56 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.0913 compared to yesterday?s $1.0905. --------------------------------------------------------------- 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