U.S. Stocks May Give Back Ground Following Recent Strength

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 04 December 2023 08:58:17 [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 Monday, with stocks likely to give back ground after ending last Friday?s trading mostly higher. Traders may look to cash in on the recent strength in the markets after the Dow and the S&P 500 ended the previous session at their best closing levels since early 2022. Stocks have recently benefited from optimism about the outlook for interest rates, as the Federal Reserve is widely expected to leave rates unchanged until cutting rates as early as March 2024. Overall trading activity may be somewhat subdued, however, as traders look ahead to the release of the Labor Department?s closely watched monthly jobs report on Friday. Economists currently expect employment to increase by 180,000 jobs in November after rising by 150,000 jobs in October, while the unemployment rate is expected to hold at 3.9 percent. ?Another weaker report, especially one paired with 0.2% monthly wage growth, could further fuel the belief that not only is the tightening cycle over but rate cuts may not be far away,? said Craig Erlam, Senior Market Analyst, UK & EMEA, OANDA. Reports on service sector activity, private sector jobs, weekly jobless claims and consumer sentiment may also attract attention in the coming days. Stocks moved mostly higher over the course of the trading session on Friday, with the major averages all climbing firmly into positive territory after showing a lack of direction early in the session. The Dow and the S&P 500 reached their best closing levels since early 2022, while the tech-heavy Nasdaq ended the day at a four-month closing high. While the Dow jumped 294.61 points or 0.8 percent to 36,245.50, closing high for the fourth straight session, the S&P 500 advanced 26.83 points or 0.6 percent to 4,594.63 and the Nasdaq climbed 78.81 points or 0.6 percent to 14,305.03. For the week, the Dow surged by 2.4 percent, the S&P 500 increased by 0.8 percent and the Nasdaq rose by 0.4 percent. The strength on Wall Street partly reflected ongoing optimism about the outlook for interest rates following the release of a report from the Institute for Supply Management showing a continued contraction in U.S. manufacturing activity in the month of November. The ISM said its manufacturing PMI came in at 46.7 in November, unchanged from October, with a reading below 50 indicating a contraction. Economists had expected the index to inch up to 47.6. "The weaker-than-expected ISM survey will reinforce financial markets' expectations that the Fed's next move is a cut," said Bill Adams, Chief Economist for Comerica Bank. Stocks saw further upside even after Federal Reserve Chair Jerome Powell's called speculation about interest rate cuts "premature" during remarks at Spelman College. Powell acknowledged recent signs of slowing price growth but said the Fed is committed to keeping monetary policy restrictive until officials are confident inflation is on a path to 2 percent. "It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease," Powell said. Powell stressed the Fed is prepared to tighten policy further if it becomes appropriate, although most economists believe the central bank is done raising rates. Jeffrey Roach, Chief Economist for LPL Financial, suggested traders viewed Powell's comments as inching toward the dovish camp. "A few weeks ago, Powell said policy is restrictive but today, he believes policy is 'well into restrictive territory,'" Roach said. "I think it's fair for markets to latch on to that subtlety." Transportation stocks extended the strong upward move seen on Thursday, driving the Dow Jones Transportation Average up by 3.0 percent to a three-month closing high. Substantial strength also emerged among networking stocks, as reflected by the 2.8 percent surge by the NYSE Arca Networking Index. The index reached its best closing level in two months. Banking stocks also saw significant strength on the day, with the KBW Bank Index jumping by 2.7 percent to a nearly four-month closing high. Tobacco, telecom, housing and commercial real estate stocks also moved notably higher amid broad based buying interest on Wall Street. --------------------------------------------------------------- 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 Commerce Department is scheduled to release its report on new orders for manufactured goods in the month of October at 10 am ET. Factory orders are expected to tumble by 2.6 percent in October after surging by 2.8 percent in September. --------------------------------------------------------------- [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 Hawaiian Holdings (HA) are skyrocketing in pre-market trading after the parent of Hawaiian Airlines agreed to be acquired by Alaska Air Group (ALK) for $18.00 per share in cash. The transaction is value at approximately $1.9 billion, including $0.9 billion of Hawaiian Airlines net debt. Uber Technologies (UBER), Jabil (JBL) and Builders FirstSource (BLDR) are also likely to see initial strength after Standard & Poor?s announced the companies will replace Sealed Air (SEE), Alaska Air and SolarEdge Technologies (SEDG) in the S&P 500 prior to the open of trading on Monday, December 18. On the other hand, shares of Lululemon Athletica (LULU) may move to the downside after Wells Fargo downgraded its rating on the athletic apparel retailer to Equal Weight from Overweight. --------------------------------------------------------------- [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 shares are turning in a mixed performance during trading on Monday, as investors remain cautious ahead of the release of PMI and inflation readings from Germany as well as crucial jobs data from the U.S. In economic news, data released earlier in the day showed exports from Germany unexpectedly fell by 0.2 percent, while economists were looking for a 1.1 percent gain. Imports also declined 1.2 percent, compared with market expectations of a 0.8 percent surge. While the German DAX Index is up by 0.1 percent, the French CAC 40 Index is down by 0.3 percent and the U.K.?s FTSE 100 Index is down by 0.5 percent. In the corporate news, Roche Holding AG shares have moved higher after the Swiss drug major said it agreed to buy Carmot Therapeutics, Inc., a privately owned U.S. clinical-stage biotechnology company, for $2.7 billion upfront in cash and additional milestone payments of up to $400 million. Capita Plc shares have also jumped. The British business process outsourcing and professional services said it has agreed to sell its 75 percent stake in Fera Science Limited to Bridgepoint Group Plc for 60 million pounds on a cash-free, debt-free basis. Meanwhile, Swiss Life Holding AG has fallen after the firm said its Chief Executive Officer, Patrick Frost, will step down at its Annual General Meeting on May 15, 2024. Subsequently, current Chief Financial Officer, Matthias Aellig, has been appointed as new CEO with effect from May 16. Toyota Motor Corp. has also moved to the downside in London. Toyota Motor Europe said it expects the company's battery electric vehicle sales to be more than 250,000 per year by 2026. By then, Toyota's European BEV (battery electric vehicles) mix is expected to be over 20 percent. --------------------------------------------------------------- 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]( Equity markets in Asia closed on a mixed note on Monday amidst sentiment driven both by concerns about China as well as the growing Fed rate cut expectations. A labor market update from the U.S. as well as inflation data from China due in the week added to the anxiety and uncertainty. China's Shanghai Composite Index slipped 0.3 percent to finish trading at 3,022.91. The day's trading ranged between 3,038.98 and 3,022.35. The Shenzhen Component Index lost 0.6 percent to close at 9,660.44. The Japanese benchmark Nikkei 225 Index fell or 0.6 percent to end trading at 33,231.27. The day's trading range was between 33,324.38 and 33,023.04. Trend Micro was the top gainer with a surge of 4.5 percent. Transportation business Kawasaki Kisen Kaisha and banking services business Credit Saison both gained more than 3 percent. Media business Toho added 2.9 percent, followed by Chugai Pharmaceutical that added 2.2 percent. Mazda Motor plunged 3.6 percent. Mitsubishi Motors Corp., CyberAgent, Denso Corp. and Nissan Motor all declined more than 3 percent. The Hang Seng Index of the Hong Kong Stock Exchange shed 1.1 percent from the previous close to finish trading at 16,646.05. The day's trading range was between a high of 16,941.91 and a low of 16,617.03. Korean Stock Exchange's Kospi Index added 0.4 percent to close trading at 2,514.95. The day's trading range was between 2,510.52 and 2,525.63. Australia's S&P/ASX200 closed trading at 7,124.70, adding 0.7 percent amidst anxiety ahead of the Reserve Bank of Australia's impending interest rate decision. The day's trading range was between 7073.20 and 7,167.60. Chalice Mining jumped 11.5 percent. Resorts business The Star Entertainment Group and Genesis Minerals both gained more than 6 percent. Bellevue Gold added 5.5 percent, followed by Alumina that rallied 4.9 percent. Sayona Mining plunged 9.7 percent. Core Lithium also lost 5.6 percent. Healthcare business Healius dropped more than 4 percent, followed by Origin Energy and mining business IGO that both lost more than 3 percent. The NZX 50 Index of the New Zealand Stock Exchange closed slightly lower at 11,367.81 versus the previous close of 11,367.51. Trading ranged between 11,311.02 and 11,396.70. Software business Vista Group International surged 5.8 percent. A2 Milk Company and financial services business Heartland Group both rallied more than 3 percent. Software businesses Serko and EROAD both added more than 2 percent. Synlait Milk slumped more than 6 percent. Oceania Healthcare declined 4.2 percent. Agribusiness Scales Corporation, Sky Network Television and Vital Healthcare Property Trust all declined more than 2 percent. --------------------------------------------------------------- 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 inching up $0.08 to $74.15 a barrel after plunging $1.89 to $74.07 a barrel last Friday. Meanwhile, after soaring $32.50 to $2,089.70 an ounce in the previous session, gold futures are slipping $6.90 to $2,082.80 an ounce. On the currency front, the U.S. dollar is trading at 146.68 yen versus the 146.82 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0860 compared to last Friday?s $1.0884. --------------------------------------------------------------- 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