U.S. Stocks May Regain Ground In Early Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Thursday, 18 January 2024 08:58:38 [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 higher open on Thursday, with stocks likely to regain ground after moving mostly lower over the two previous sessions. Traders may look to pick up stocks at somewhat reduced levels following the pullback seen to start the week, which dragged the Dow down to its lowest closing level in almost a month. The tech-heavy Nasdaq may benefit from a surge by shares of Apple (AAPL), with the tech giant jumping by 2.1 percent in premarket trading after Bank of America upgraded its rating on the company?s stock to Buy. Buying interest may be somewhat subdued, however, as treasury yields have advanced following the release of a Labor Department report showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended January 13th. The report said initial jobless claims fell to 187,000, a decrease of 16,000 from the previous week's revised level of 203,000. Economists had expected jobless claims to inch up to 207,000 from the 202,000 originally reported for the previous week. With the unexpected decline, jobless claims dropped to their lowest level since hitting 182,000 in the week ended September 24, 2022. After coming under pressure early in the session, stocks remained mostly lower throughout the trading day on Wednesday. The major averages added to the losses posted during Tuesday's session, with the Dow falling to its lowest closing level in almost a month. The major averages regained ground going into the close of trading but remained in negative territory. The Dow dipped 94.45 points or 0.3 percent to37,266.67, the Nasdaq slid 88.73 points or 0.6 percent to14,855.62 and the S&P 500 fell 26.77 points or 0.6 percent to 4,739.21. The early weakness on Wall Street partly reflected ongoing uncertainty about the outlook for interest rates amid recent concerns the Federal Reserve won't lower rates as early as previously anticipated. Adding to worries the Fed will hold off on cutting rates, the Commerce Department released a report this morning showing U.S. retail sales increased by more than expected in the month of December. The report said retail sales climbed by 0.6 percent in December after rising by 0.3 percent in November. Economists had expected retail sales to advance by 0.4 percent. Excluding a jump in sales by motor vehicle and parts dealers, retail sales rose by 0.4 percent in December after inching up by 0.2 percent in November. Ex-auto sales were expected to edge up by another 0.2 percent. "As long as the primary indicators of economic activity like personal spending and the labor market are showing no signs of weakness, the Fed will be comfortable extending its rate pause through the March FOMC decision at least," said FHN Financial Macro Strategist Will Compernolle. A separate report released by the Federal Reserve showed an unexpected uptick in U.S. industrial production in the month of December. The Fed said industrial production inched up by 0.1 percent in December, while revised data showed production was unchanged in November. Economists had expected industrial production to come in unchanged compared to the 0.2 percent increase originally reported for the previous month. Airline stocks turned in some of the market's worst performances on the day, resulting in a 3.2 percent nosedive by the NYSE Arca Airline Index. The index fell to its lowest closing level in well over a month. Shares of Spirit Airlines (SAVE) plummeted after a federal judge blocked JetBlue's (JBLU) proposed $3.8 billion acquisition of the discount airline. Gold stocks also saw considerable weakness amid a decrease by the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.3 percent. Commercial real estate, telecom and utilities stocks also showed notable moves to the downside, moving lower along with most of the other major sectors. --------------------------------------------------------------- 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 Labor Department released a report on Thursday showing an unexpected decrease in first-time claims for U.S. unemployment benefits in the week ended January 13th. The report said initial jobless claims fell to 187,000, a decrease of 16,000 from the previous week's revised level of 203,000. Economists had expected jobless claims to inch up to 207,000 from the 202,000 originally reported for the previous week. With the unexpected decline, jobless claims dropped to their lowest level since hitting 182,000 in the week ended September 24, 2022. After reporting a sharp increase in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Thursday showing a notable pullback by housing starts in the month of December. The Commerce Department said housing starts slumped by 4.3 percent to an annual rate of 1.460 million in December after spiking by 10.8 percent to a revised rate of 1,525 million in November. Economists had expected housing starts to pull back by 8.6 percent to a rate of 1.426 million from the 1.560 million originally reported for the previous month. Meanwhile, the report also said building permits surged by 1.9 percent to an annual rate of 1.495 million in December after tumbling by 2.1 percent to a revised rate of 1.467 million in November. Building permits, an indicator of future housing demand, were expected to jump by 1.4 percent to a rate of 1.480 million from the 1.460 million originally reported for the previous month. A report released by the Federal Reserve Bank of Philadelphia on Thursday showed regional manufacturing activity contracted at a slightly slower rate in the month of January. The Philly Fed said its diffusion index for current general activity rose to a negative 10.6 in January from a revised reading of negative 12.8 in December. A negative reading indicates a contraction in regional manufacturing activity. Economists had expected the index to rise to a negative 7.0 from the negative 10.5 originally reported for the previous month. At 11 am ET, the Energy Information Administration is due to release its report on oil inventories in the week ended January 12th. Crude oil inventories are expected to dip by 0.3 million barrels are climbing by 1.3 million barrels in the previous week. The Treasury Department is also scheduled to announce the details of this month?s auctions of two-year, five-year and seven-year notes at 11 am ET. At 12:05 pm ET, Atlanta Federal Reserve President Raphael Bostic is due to speak on the 2024 economic outlook before the Atlanta Business Chronicle 2024 Economic Outlook lunch. --------------------------------------------------------------- [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 have moved higher on Thursday following three straight sessions of losses amid rising tensions in the Middle East and fading rate cut hopes. While the French CAC 40 Index has jumped by 1.0 percent, the German DAX Index is up by 0.7 percent and the U.K.?s FTSE 100 Index is up by 0.2 percent. Richemont has jumped after the Swiss luxury-goods company posted resilient sales growth in its fiscal third quarter. J Sainsbury, a chain of grocery stores, has also risen after an announcement that it is exploring a number of options for its financial services division. Kier Group has also advanced. The construction firm said its performance in the first half of its fiscal year remained ahead of last year's. Meanwhile, Telefonica, S.A. a Spanish telecom company, has fallen slightly after announcing placement of a green bond for 1750 million euros. Automakers were flat to slightly lower after industry data showed Europe's passenger car sales declined for the first time in 17 months in December. Watches Of Switzerland has plummeted after the luxury watch retailer cut its full-year 2024 revenue guidance. --------------------------------------------------------------- [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 shares ended mixed on Thursday, with Chinese markets seeing considerable volatility on concerns about slowing growth in the world's second largest economy. Geopolitical tensions remained on investors' radar after Pakistan conducted strikes inside Iran on Thursday, targeting separatist militants. The dollar and Treasury yields remained elevated after comments from central bank officials indicated that interest rates would not come down as early as some had initially thought. Oil edged higher in Asian trading amid lingering Middle East tensions and after estimates of rising global oil demand by OPEC. Chinese stocks fell sharply to probe multi-year lows before reversing direction to end on a firm note. The Shanghai Composite Index ended 0.4 percent higher at 2,845.78 after hitting a low of 2,760.98 in intraday trading. Hong Kong's Hang Seng Index also fluctuated before ending 0.8 percent higher at 15,391.79. Japanese markets ended on a flat note after recent strong gains. The Nikkei 225 Index finished marginally lower at 35,466.17, while the broader Topix Index slipped 0.2 percent to 2,492.09. Robot maker Fanuc declined 2.6 percent and video game maker Nexon slumped 5.5 percent, while automaker Toyota Motor rose 2.6 percent, tracking a weaker yen ahead of key consumer price inflation data due on Friday. Japanese core machinery orders declined 4.9 percent in November from the previous month, while industrial output declined 0.9 percent, separate reports showed earlier in the day. Seoul stocks eked out modest gains, with the Kospi closing up 0.2 percent at 2,440.04 on bargain hunting following a recent market decline. Market bellwether Samsung Electronics rose about 1 percent and No. 2 chipmaker SK Hynix rallied 4 percent. Australian stocks fell notably as data showed domestic employment fell sharply in December. The benchmark S&P/ASX 200 Index dropped 0.6 percent to 7,346.50, while the broader All Ordinaries Index closed down 0.6 percent at 7,575.60. Across the Tasman, New Zealand's benchmark S&P NZX-50 Index fell 0.7 percent to 11,687.18. --------------------------------------------------------------- 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 edging down $0.08 to $72.48 a barrel after inching up $0.16 to $72.56 a barrel on Wednesday. Meanwhile, after tumbling $23.70 to $2,006.50 an ounce in the previous session, gold futures are rising $8 to $2,014.50 an ounce. On the currency front, the U.S. dollar is trading at 148.24 yen versus the 148.16 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0854 compared to yesterday?s $1.0883. --------------------------------------------------------------- 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