Futures Pointing To Initial Pullback On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 15 December 2023 10:37:51 [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 slightly lower open on Friday, with stocks likely to give back ground after moving notably higher over the past few sessions. The futures moved to the downside following comments from New York Federal Reserve President John Williams that partly offset recent optimism about the outlook for interest rates. Williams told CNBC?s ?Squawk Box? the Fed is not ?really talking about rate cuts right now? and is focused on whether monetary policy is sufficiently restrictive to ensure inflation comes back down to 2 percent. The Fed?s monetary policy announcement earlier this week suggested the central bank is likely to pivot to lowering interest rates next year. Projections calling for three rates cuts in 2024 helped spark a rally on Wall Street, driving the Dow to new record highs. On the heels of the Fed announcement, the chances of a quarter point rate cut in March have jumped to 60.5 percent, according to CME Group?s FedWatch Tool. The downturn by the futures also came after the New York Fed released a report showing a substantial downturn in regional manufacturing activity in the month of December. Following the substantial rally seen late in Wednesday?s session, stocks saw further upside during trading on Thursday. Buying interest was somewhat subdued on the day, although the Dow still managed to reach a new record closing high. The Dow climbed 158.11 points or 0.4 percent to 37,248.35, closing higher for the sixth consecutive session. The Nasdaq edged up 27.59 points or 0.2 percent to 14,761.56 and the S&P 500 rose 12.46 points or 0.3 percent to 4,719.55, reaching their best closing levels in almost two years. Stocks continued to benefit from a positive reaction to the Federal Reserve's monetary policy announcement on Wednesday. The Fed left interest rates unchanged, as widely expected, and signaled plans to cut interest rates three times next year. Since the Fed's projections are often more conservative, traders are expecting the central bank to slash rates even further than forecast in 2024. Adding to optimism the economy is headed toward a soft landing, the Commerce Department released a report this morning showing an unexpected increase in U.S. retail sales in November. The Commerce Department said retail sales rose by 0.3 percent in November after slipping by a downwardly revised 0.2 percent. Economists had expected retail sales to edge down by 0.1 percent, matching the dip originally reported for the previous month. Excluding sales by motor vehicle and parts dealers, retail sales inched up by 0.2 percent in November after coming in unchanged in October. Ex-auto sales were expected to slip by 0.1 percent. Meanwhile, the Labor Department released a separate report showing first-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended December 9th. The report said initial jobless claims fell to 202,000, a decrease of 19,000 from the previous week's revised level of 221,000. Economists had expected jobless claims to come in unchanged compared to the 220,000 originally reported for the previous week. Housing stocks turned in some of the market's best performances on the day, driving the Philadelphia Housing Sector Index up by 5.8 percent to a record closing high. Substantial strength was also visible among banking stocks, as reflected by the 5.1 percent spike by the KBW Bank Index. The index reached its best closing level in over nine months. Oil service stocks also moved sharply higher along with the price of crude oil, with the Philadelphia Oil Service Index surging by 4.4 percent. Brokerage, commercial real estate and semiconductor stocks also saw significant strength, while software and utilities stocks showed notable moves to the downside. --------------------------------------------------------------- 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]( After reporting a significant rebound in New York manufacturing activity in the previous month, the Federal Reserve Bank of New York released a report on Monday showing a substantial downturn in activity in the month of December. The New York Fed said its general business conditions index plunged to a negative 14.5 in December after surging to a positive 9.1 in November, with a negative reading indicating a contraction. Economists had expected the index to fall to a positive 2.0. Meanwhile, firms were more positive about the outlook for activity, with the index for future business conditions jumping to a positive 12.1 in December from a negative 0.9 in November. At 9:15 am ET, the Federal Reserve is scheduled to release its report on industrial production in the month of November. Industrial production is expected to increase by 0.3 percent in November after falling by 0.6 percent in October. --------------------------------------------------------------- [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 Scholastic (SCHL) are moving sharply lower in pre-market trading after the publishing, education, and media company reported weaker than expected fiscal second quarter results and lowered its full-year guidance. Building product solutions providing Quanex (NX) may also come under pressure after reporting fiscal fourth quarter results that exceeded analyst estimates but declining to provide fiscal 2024 guidance amid a somewhat cautious outlook for the first half. Meanwhile, shares of Costco (COST) are likely to see initial strength after the wholesale retailer report better than expected fiscal first quarter results and announced a special cash dividend of $15 per share. --------------------------------------------------------------- [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 markets are turning in a mixed performance on Friday amid more cautious stances from the European Central Bank and the Bank of England. ECB policymaker Francois Villeroy de Galhau told Boursorama television today that the next move should be lowering rates from record highs. Commodity-related stocks have surged after mixed economic data and positive signals from policymakers in China. In economic releases, a survey showed the down in Eurozone business activity deepened in December. The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global dropped to 47 from 47.6 in November. Elsewhere, French consumer price inflation slowed in November but exceeded the initial estimate, final data released by the statistical office INSEE showed. Consumer price inflation eased to 3.5 percent in November from 4.0 percent in October. The initially estimated rate was 3.4 percent. The latest inflation figure was the weakest since January 2022. While the U.K.?s FTSE 100 Index has slid by 0.7 percent, the German DAX Index is up by 0.1 percent and the French CAC 40 Index is up by 0.5 percent. Munich Re shares have jumped. The reinsurance provider announced guidance for 2024, when it expects net profit of 5 billion euros, citing stable operational activities in all business segments. Clothing major H&M Group has also moved to the upside after reporting an increase in its preliminary net sales for the full year. Swedish technology firm Sectra has moved sharply higher after reporting better-than-expected second-quarter results. Telecom Italia SpA has also advanced after extending a deadline for KKR's final offer for its submarine cable unit Sparkle. Miners Anglo American, Antofagasta and Glencore have all jumped on news of relaxation of home purchase restrictions in Beijing and Shanghai. On the other hand, Symrise has plunged after the German fragrance and flavour maker revised down its adjusted EBITDA margin target for the year. Italian spirits group Campari has also moved notably lower after it agreed to buy historic French cognac house Courvoisier from Beam Suntory for an initial price of $1.20 billion (?1.11 billion). --------------------------------------------------------------- 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 advanced on Friday after China reported mixed economic data and the country's central bank boosted liquidity injection through medium-term policy loans while keeping the interest rate unchanged. The dollar wallowed near four-month lows in Asian trading and gold consolidated its weekly gains, while oil prices were on course to snap a seven-week losing streak. China's Shanghai Composite Index fell 056 percent to 2,942.56 as investors reacted to mixed economic readings and the announcement of new measures to support the property market. Beijing and Shanghai relaxed home purchase restrictions to help revive the sluggish housing market. Chinese industrial output grew more than expected in November, but the readings on retail sales and fixed asset investment pointed to continued weakness in the economy. Hong Kong's Hang Seng Index jumped 2.4 percent to 16,792.19 as lower bond yields on expectations of U.S. rate cuts in 2024 boosted heavyweight technology stocks. Japanese shares rose notably amid expectations that the Bank of Japan will maintain its ultra-dovish stance at its policy meeting next week. Japanese manufacturing activity contracted for a seventh straight month in December, while service sector activity improved, data showed earlier in the day. The Nikkei 225 Index climbed 0.9 percent to 32,970.55, snapping a two-week losing streak as the yen weakened after touching a four-and-a-half month high. The broader Topix Index settled 0.5 percent higher at 2,332.38. Automakers surged, with Nissan and Subaru rallying 2.9 percent and 4.5 percent, respectively. A decline in U.S. bond yields weighed on the financial sector, with banks Mitsubishi UFJ Financial and Sumitomo Mitsui Financial falling 2-3 percent. South Korea's KOSPI rose 0.8 percent to 2,563.56, led by technology stocks. Robotics shares benefited from reports that the government will inject 3 trillion won in the industry by 2030. Top automaker Hyundai Motor jumped 4.3 percent and its affiliate Kia added 2.4 percent. Australian markets closed higher, with resource stocks and banks leading the surge. The benchmark S&P/ASX 200 Index closed 0.9 percent higher at 7,442.70, while the broader All Ordinaries Index ended up 0.8 percent at 7,661.90. Investors shrugged off data showing that Australian private sector business activity continued to contract in December. Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 Index finished marginally lower at 11,550.20 despite improved manufacturing data. --------------------------------------------------------------- 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 climbing $0.46 to $72.04 a barrel after spiking $2.11 to $71.58 a barrel on Thursday. Meanwhile, after soaring $47.60 to $2,044.90 an ounce in the previous session, gold futures are rising $6.50 to $2,051.40 an ounce. On the currency front, the U.S. dollar is trading at 142.32 yen versus the 141.89 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0909 compared to yesterday?s $1.0993. --------------------------------------------------------------- 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