Earnings Optimism May Contribute To Continued Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Monday, 22 January 2024 10:30:32 [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]( Earnings Optimism May Contribute To Continued Strength On Wall Street The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to extend the strong upward move seen to close out the previous week. The markets may continue to benefit from optimism about the outlook for earnings from major tech firms, with Intel (INTC), IBM Corp. (IBM) and Netflix (NFLX) among the companies due to release their quarterly results this week. Earnings news from big-name companies like 3M (MMM), General Electric (GE), Johnson & Johnson (JNJ), Procter & Gamble (PG), Verizon (VZ), AT&T (T) and Tesla (TSLA) is also likely to attract attention in the coming days. Meanwhile, the U.S. economic calendar is relatively quiet to start the week but picks up considerably as the week progresses. Traders are likely to keep a particularly close on a report on personal income and spending, as it includes readings on inflation said to be preferred by the Federal Reserve. Reports on durable goods orders, new home sales and fourth quarter GDP are also scheduled to be released in the latter part of the week. Stocks moved sharply higher over the course of the trading session on Friday, adding to the strong gains posted during Thursday's session. With the continued upward move, the Dow and the S&P 500 set new record closing highs, while the tech-heavy Nasdaq reached its best closing level in two years. The major averages all close firmly in positive territory, with the Nasdaq posting a standout gain. The Nasdaq spiked 255.32 points or 1.7 percent to 15,310.97, the S&P 500 surged 58.87 points or 1.2 percent to 4,839.81 and the Dow jumped 395.19 points or 1.1 percent to 37,863.80. For the holiday-shortened week, the Nasdaq soared by 2.3 percent, the S&P 500 shot up by 1.2 percent and the Dow advanced by 0.7% The run to record highs on Wall Street partly reflected continued strength among tech stocks, which helped lead the advance on Thursday. Computer hardware stocks saw substantial strength on the day, driving the NYSE Arca Computer Hardware Index up by 5.1percent to a record closing high. Supermicro (SMCI) led the sector higher, skyrocketing by 35.9 percent after raising its fiscal second quarter guidance amid strong market and end customer demand for its rack-scale, AI and Total IT Solutions. Semiconductor stocks also extended the rally seen on Thursday, with the Philadelphia Semiconductor Index surging by 4.0 percent. The index also reached a new record closing high. Outside of the tech sector, substantial strength emerged among banking stocks, as reflected by the 2.5 percent jump by the KBW Bank Index. Meanwhile, the Dow received a boost from a surge by shares of Travelers (TRV), with the insurance giant spiking by 6.7 percent. Travelers moved sharply higher after the company reported fourth quarter earnings that exceeded analyst estimates. The rally on Wall Street also came after the University of Michigan released a report showing a significant improvement in U.S. consumer sentiment as well as a continued decrease in inflation expectations. The University of Michigan said its consumer sentiment index surged to 78.8 in January after jumping to 69.7 in December. Economists had expected the index to inch up to 70.0. With the much bigger than expected increase, the consumer sentiment index reached its highest level since hitting 81.2 in July 2021. The University of Michigan's report also showed continued decreases in both year-ahead and long-run inflation expectations. Year-ahead inflation expectations slipped to 2.9 percent in January after plunging to 3.1 percent in December, hitting the lowest level since December 2020. Long-run inflation expectations also edged down to 2.8 percent in January from 2.9 percent in December, falling just below the 2.9-3.1 percent range seen for 26 of the last 30 months. --------------------------------------------------------------- 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 Conference Board is scheduled to release its report on leading economic indicators in the month of December at 10 am ET. The leading economic index is expected to decrease by 0.3 percent in December after falling by 0.5 percent in November. --------------------------------------------------------------- [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 moving higher on Monday as investors look ahead to the European Central Bank monetary policy decision on Thursday to ascertain the timing and pace of interest-rate cuts this year. Market analysts remain skeptical of the ECB's inflation outlook and anticipate multiple cuts throughout the year. While the U.K.?s FTSE 100 Index is just above the unchanged line, the French CAC 40 Index is up by 0.3 percent and the German DAX Index is up by 0.4 percent. Sandoz has jumped after the key player in generic and biosimilar medicines announced a deal to acquire the U.S. biosimilar ranibizumab CIMERLI from Coherus BioSciences, Inc. for an upfront cash purchase payment of $170 million. Endeavour has also surged. The gold miner said it expects production to increase by as much as 18 percent in 2024, thanks to several project start-ups due to commence in the second quarter. Bodycote has also rallied. The provider of heat treatment and thermal processing services announced its decision to buy back shares of up to 60 million pounds. Credit Agricole S.A. shares have also risen. The French banking group said that it has acquired a 7 percent minority interest in Worldline S.A., a payment and transactional services provider. The financial terms of the deal were not disclosed. Gaming company Kindred has also soared after confirming a takeover bid from La Francaise des Jeux. Shares of the latter have also jumped percent. Meanwhile, SDI Group shares have slumped in London. The maker of scientific and technology products said that its Chief Executive Officer, Mike Creedon, has stepped down with effect from January 19. --------------------------------------------------------------- [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 ended Monday's session on a mixed note as concerns over China's faltering economy offset dovish Bank of Japan bets. The U.S. dollar index fell slightly and yields on U.S. 10-year Treasury notes fell from recent highs as investors braced for a slew of major central bank meetings, including the Bank of Japan, the European Central Bank and the Bank of Canada. Gold and oil prices were down modestly in Asian trading amid much uncertainty about when U.S. rate cuts might commence. Chinese stocks fell to multi-year lows as the People's Bank of China kept benchmark lending rates unchanged at a monthly fixing. The benchmark Shanghai Composite Index tumbled 2.7 percent to 2,756.34, marking its lowest since April 2020. Hong Kong's Hang Seng Index slumped 2.3 percent to 14,961.18. Japanese shares rallied as the Bank of Japan started a two-day policy meeting, with no change to rates expected. The Nikkei 225 Index surged 1.6 percent to 36,546.95, reaching its highest level in 33 years and 11 months amid gains in semiconductor-related stocks. The broader Topix Index settled 1.4 percent higher at 2,544.92. Advantest, Screen Holdings and Advantest surged 2-5 percent on hopes that a return to growth is on cards for the semiconductor sector. Seoul stocks ended slightly lower as investors awaited cues from the latest earnings season and gross domestic product figures for the fourth quarter of 2023 due on Wednesday. The Kospi dipped 0.3 percent to 2,464.35. LG Chem and SK Innovation lost 4-5 percent. Australian markets rose notably, led by financials and technology stocks. Mining and energy stocks slipped on concerns over demand in China. The benchmark S&P/ASX 200 Index climbed 0.8 percent to 7,476.60, while the broader All Ordinaries Index closed 0.7 percent higher at 7,702.30. Shares of Liontown Resources fell 21.3 percent on news the lithium miner is scrapping its Kathleen Valley expansion. Rare-earths miner Lynas Rare Earths dropped 1.3 percent after its Q2 revenue halved on falling prices. Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 Index rose 0.2 percent to 11,684.95. --------------------------------------------------------------- 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 climbing $0.25 to $73.66 a barrel after falling $0.67 to $73.41 a barrel last Friday. Meanwhile, after rising $7.70 to $2,029.30 an ounce in the previous session, gold futures are edging down $2 to $2,027.30 an ounce. On the currency front, the U.S. dollar is trading at 147.82 yen versus the 148.12 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.0881 compared to last Friday?s $1.0898. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. 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