U.S. Stocks May Give Back Ground In Early Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 30 January 2024 08:54:30 [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 modestly lower open on Tuesday, with stocks likely to give back ground following the strong upward move seen over the course of the previous session. Traders may look to cash in on the rally seen late in Monday?s trading, which lifted the Dow and the S&P 500 to new record closing highs. Uncertainty ahead of the Federal Reserve?s monetary policy announcement on Wednesday may inspire some traders to book profits. The Fed is widely expected to leave interest rates unchanged, but the accompanying statement could have a significant impact on the outlook for rates. Optimism about a March rate cut has faded recently, with many economists now suggesting the Fed will wait until May to begin lowering rates. A steep drop by shares of UPS (UPS) may also weigh on Wall Street, as the delivery giant is plunging by 6.2 percent in pre-market trading. UPS is under pressure after reporting weaker than expected fourth quarter revenues and providing disappointing 2024 guidance. On the other hand, shares of General Motors (GM) are surging by 7.5 percent in pre-market trading after the auto giant reported fourth quarter results that beat expectations and offered a bullish profit outlook for 2024. Google parent Alphabet (GOOGL) and software giant Microsoft (MSFT) are among the companied due to report their quarterly results after the close of today?s trading. After showing a lack of direction early in the session, stocks moved mostly higher over the course of the trading day on Monday. With the upward move, the Dow and the S&P 500 set new record closing highs, while the Nasdaq reached its best closing level in two years. The major averages rallied to new highs for the session in the final hour of trading. The Dow climbed 224.02 points or 0.6 percent to 38,333.45, the Nasdaq jumped 172.68 points or 1.1 percent to 15,628.04 and the S&P 500 advanced 36.96 points or 0.8 percent to 4,927.93. The strength that emerged on Wall Street may partly have reflected a notable pullback by treasury yields, with yields giving back ground after moving higher last Friday. Yields fell to new lows and stocks rallied late in the session as the Treasury Department reduced its estimates for first quarter borrowing. The Treasury said it expects to borrow $760 billion in the first quarter; $55 billion lower than forecast in October due to projections of higher net fiscal flows and a higher beginning of quarter cash balance. Earlier in the day, traders seemed reluctant to make significant ahead of several key events this week, including the Federal Reserve's monetary policy announcement on Wednesday. While the Fed is widely expected to leave interest rates unchanged, traders will be looking for clues about the likelihood of rate cuts at upcoming meetings. Recent economic data has led many economists to believe the Fed is unlikely to cut rates in March, as traders had previously hoped. The Labor Department's closely watched monthly jobs report is also due to be released later this week along with reports on initial jobless claims, labor productivity and costs and manufacturing activity. Software stocks showed a strong move to the upside over the course of the session, driving the Dow Jones U.S. Software Index up by 1.7 percent to a record closing high. Considerable strength also emerged among gold stocks, as reflected by the 1.5 percent gain posted by the NYSE Arca Gold Bugs Index. The strength in the sector came amid a modest increase by the price of gold. Biotechnology, networking and semiconductor stocks also moved notably higher as the day progressed, contributing to the surge by the tech-heavy Nasdaq. On the other hand, airline stocks moved sharply lower on the day, dragging the NYSE Arca Airline Index down by 2.2 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]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( Standard & Poor's is scheduled to release its report on home prices in major metropolitan areas in the month of November at 9 am ET. At 10 am ET, the Conference Board is due to release its report on consumer confidence in the month of January. The consumer confidence index is expected to rise to 112.5 in January after jumping to 110.7 in December. The Labor Department is also scheduled to release its report on job openings in the month of December at 10 am ET. Job openings are expected to dip to 8.75 million in December from 8.79 million 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.]( --------------------------------------------------------------- Stocks in Focus Shares of Super Micro Computer (SMCI) are moving sharply higher in pre-market trading after the information technology company reported better than expected fiscal second quarter results and raised its full-year revenue forecast. Manufacturing services provider Sanmina (SANM) is also seeing substantial pre-market strength after reporting fiscal first quarter results that exceeded analyst estimates and providing upbeat guidance for the current quarter. Meanwhile, shares of Whirlpool (WHR) may come under pressure after the home appliance maker reported better than expected fourth quarter earnings but forecast full-year results below analyst estimates. JetBlue Airways (JBLU) may also move to the downside after reporting a narrower than expected fourth quarter loss but forecast lower revenues and higher costs in the first quarter. --------------------------------------------------------------- [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 stocks have moved higher on Tuesday as investors digest mixed regional data and look ahead to key Fed and BOE meetings this week for directional cues. While the U.K.?s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index is up by 0.3 percent and the German DAX Index is down by 0.1 percent. Spanish lender BBVA has rallied after posting solid fourth-quarter results and announcing a share buyback of 781 million euros ($846.1 million). Advertising agency WPP has also shown a substantial move to the upside after upgrading its medium-term financial targets. Infrastructure products group Hill & Smith has also moved higher after appointing a new chief operating officer. MorphoSys has also advanced. The biopharmaceutical company expects Monjuvi U.S. net product sales to be in the range of $80 million to $95 million for the year 2024, in line with its previous guidance. Meanwhile, Diageo shares have tumbled in London. First-half profits at the spirits manufacturer fell by more than a tenth as demand for expensive sprits waned in the Latin American and Caribbean regions. Shares of German food delivery service Delivery Hero have also plunged. The company said it would sell a stake in Deliveroo as consumer demand wanes. Hapag-Lloyd has also dove. The container shipping company registered a significant decline in preliminary earnings for the full year, mainly due to lower freight rates attributable to normalization of global supply chains. Zurich Insurance has also dipped after an announcement that Viridium Group won't buy its legacy life insurance policy business in Germany. In economic news, German GDP dropped 0.3 percent in the fourth quarter after stagnating in the previous two quarters, data published by Destatis showed - matching expectations. The statistical office confirmed that GDP fell 0.3 percent in 2023. Separate data showed France narrowly escaped a recession in the latter half of last year. French GDP posted nil growth in the fourth quarter, the same rate as seen in the third quarter, flash data from the statistical office INSEE showed. Another report from the INSEE showed that French household consumption growth softened in December reflecting a decrease in food consumption. Elsewhere, the British Retail Consortium said the annual shop price inflation in the U.K. slowed to 2.9 percent in January, down from 4.3 percent the month prior. It marks the seventh consecutive monthly decline and the lowest rate since May 2022. --------------------------------------------------------------- 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 shares turned in a mixed performance during trading on Tuesday, with Chinese and Hong Kong markets tumbling amid China's property sector woes. The dollar was locked in a tight range ahead of Federal Reserve and Bank of England policy meetings this week. Fed funds futures currently price in a 97.4 percent chance of no change in interest rates when the Fed delivers its rate decision on Wednesday. The Bank of England is also set to stand pat on rates on Thursday. Gold struggled for direction in Asian trading, while oil edged up slightly as markets waited for a U.S. response to the deadly attack on American troops in Jordan. Meanwhile, Saudi Arabian Oil Co., commonly known as Saudi Aramco, said that it has been ordered by the Saudi government to keep its oil production capacity at 12 million barrels a day. China's Shanghai Composite Index slumped 1.8 percent to 2,830.53 as the court-ordered liquidation of property giant China Evergrande piled pressure on policymakers to cut rates in the world's second-largest economy. Hong Kong's Hang Seng Index plummeted 2.3 percent to 15,703.45, dragged down by property developers. Shares of Evergrande, the world's most heavily indebted real estate company with more than $300 billion in liabilities, remained suspended from trading. China Evergrande New Energy Vehicle Group shares soared 4.4 percent as they resumed trading. Japanese markets ended slightly higher, giving up some early gains. The Nikkei 225 Index edged up 0.1 percent to 36,065.86, while the broader Topix Index settled 0.1 percent lower at 2,526.93. Chip-related shares gained ground, with Advantest, Renesas Electronics and Shin-Etsu Chemical rising 2-3 percent. Automakers Honda Motor, Toyota and Isuzu dropped 1-3 percent as the yen gained positive traction against its American counterpart for the second straight session. Tsuruha Holdings lost nearly 9 percent after Aeon said it was negotiating to buy activist Oasis' 13 percent stake in the company. In economic news, Japan's jobless rate fell to 2.4 percent in December from the previous month, government data showed earlier today. South Korea's Kospi finished marginally lower at 2,498.81, giving up all early gains ahead of the Fed's rate decision. Korea Electric Power shed 1.6 percent and SK Innovation fell 2.9 percent, while steelmaker Posco Holding added 1.3 percent. Australian stocks eked out modest gains despite retail sales tumbling more than expected in December. The benchmark S&P ASX 200 Index rose 0.3 percent to 7,600.20, while the broader All Ordinaries Index settled 0.3 percent higher at 7,835. Across the Tasman, New Zealand's benchmark S&P NZX-50 Index finished marginally higher at 11,914.40. --------------------------------------------------------------- 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 sliding $0.78 to $76 a barrel after tumbling $1.23 to $76.78 a barrel on Monday. Meanwhile, after rising $8.10 to $2,205.40 an ounce in the previous session, gold futures are climbing $8.10 to $2,052.70 an ounce. On the currency front, the U.S. dollar is trading at 147.44 yen compared to the 147.50 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0842 compared to yesterday?s $1.0833. --------------------------------------------------------------- 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