U.S. Stocks May See Further Upside In Early Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Friday, 09 February 2024 09:07:13 [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 Friday, with stocks likely to add to the modest gains seen at the close of yesterday?s lackluster session. The markets appear poised to extend their recent upward trend, which has lifted the Dow and the S&P 500 to new record highs. With the recent strength in the markets, the Nasdaq is also closing in on the record highs the tech-heavy index set in November of 2021. Traders are likely to pay close attention to whether the S&P 500 can finish the day above 5,000. The broad market index peeked above 5,000 on Thursday but closed slightly below what could be a key psychological level. Overall trading activity may be somewhat subdued, however, as a lack of major U.S. economic data may keep some traders on the sidelines. Traders may be reluctant to make significant moves ahead of the release of key data next week, including reports on consumer and producer price inflation, retail sales and industrial production. Following the strong upward move seen over the course of Wednesday?s session, stocks turned in a relatively lackluster performance during trading on Thursday. Despite the choppy trading, the S&P 500 and the Dow reached new record closing highs. The major averages all finished the day modestly higher. The Dow inched up 48.97 points or 0.1 percent to 38,726.33, the Nasdaq rose 37.07 points or 0.2 percent to 15,793.71 and the S&P 500 inched up 2.85 points or 0.1 percent to 4,997.91. The choppy trading on Wall Street came as traders expressed some uncertainty about whether the markets can sustain their recent upward trend. The S&P 500 reached an intraday peak slightly above 5,000 in late-day trading but pulled back to close just below what could prove to be a key psychological level for the broad market index. Despite the lackluster performance by the broader markets, shares of Arm Holdings (ARM) skyrocketed by 47.9 percent after the chipmaker reported better than expected fiscal third quarter results and provided upbeat guidance for the current quarter. Entertainment giant Disney (DIS) also soared by 11.5 percent after reporting better than expected fiscal first quarter earnings, boosting its dividend and providing an upbeat forecast. On the other hand, shares of PayPal (PYPL) plunged by 11.2 percent after the online payments company reported fourth quarter results that exceeded estimates but provided a disappointing forecast. Traders largely shrugged off a Labor Department report showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended February 3rd. The report said initial jobless claims slipped to 218,000, a decrease of 9,000 from the previous week's upwardly revised level of 227,000. Economists had expected jobless claims to edge down to 220,000 from the 224,000 originally reported for the previous week. Reflecting the lackluster performance by the broader markets, most of the major sectors showed only modest moves on the day. Semiconductor stocks saw significant strength on the heels of Arm's strong results, however, with the Philadelphia Semiconductor Index climbing by 1.6 percent. Considerable strength also emerged among airline stocks, as reflected by the 1.3 percent gain posted by the NYSE Arca Airline Index. Oil service and computer hardware stocks also saw notable strength, while tobacco stocks moved to the downside on the day. --------------------------------------------------------------- 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]( Dallas Federal Reserve President Lorie Logan is scheduled to participate in a moderated question-and-answer session before the 14th Annual Tarrant County Transportation Summit at 1:30 pm ET. --------------------------------------------------------------- [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 Cloudflare (NET) are soaring in pre-market trading after the cloud services provider reported fourth quarter results that beat expectations and provided upbeat guidance. Bitcoin miner CleanSpark (CLSK) is also seeing substantial pre-market strength after reporting an unexpected fiscal first quarter profit on better than expected revenues. Meanwhile, shares of Pinterest (PINS) are moving sharply lower in pre-market trading after the image-sharing company reported weaker than expected fourth quarter revenues and provided disappointing guidance. Video game publisher Take-Two Interactive Software (TTWO) may also come under pressure after reporting fiscal third quarter earnings that came in slightly below analyst estimates and issuing a lackluster forecast. --------------------------------------------------------------- [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 are subdued on Friday, with heighted geopolitical tensions in the Middle East, Fed rate uncertainty and mixed earnings results weighing on investor sentiment. On a light day on the economic front, Destatis reported that German consumer price inflation softened to the lowest level in just over two-and-a-half years in January, as initially estimated. The consumer price index registered an annual increase of 2.9 percent in January, slower than the 3.7 percent rise in December. That was in line with the flash data published on January 31. Further, this was the weakest inflation rate since June 2021, when prices had risen 2.4 percent. On a monthly basis, consumer prices moved up 0.2 percent in January, confirming the flash data. While the U.K.?s FTSE 100 Index is up by 0.1 percent, the German DAX Index and the French CAC 40 Index are nearly unchanged. Austrian sensor maker Ams-OSRAM has moved sharply higher after reporting fourth quarter sales in line with market expectations. Hermes International has also surged. The luxury design house announced plans to raise prices after posting solid fourth quarter results. Video games group Ubisoft has also moved sharply higher after beating its fiscal third quarter sales targets. German medical technology company Carl Zeiss Meditec has also soared despite posting a decline in fiscal first quarter EBIT earnings. Tesco has also moved higher. The groceries and general merchandise retailer announced a deal to sell certain banking operations to lending major Barclays. On the other hand, L'Oreal has shown a significant move to the downside after reporting lower-than-expected fourth-quarter sales. Bellway has also fallen. The British homebuilder reported weak housing revenue in its first half, reflecting lower completions and pricing. Victrex has also slumped. The polymers group said it had a "soft start" in its first quarter and therefore making full-year guidance could be tricky. Orange has also dipped. The French telecoms firm reported that its loss before taxation for fiscal year 2023 was 2.2 million euros compared to a profit of 81.6 million euros in the prior year. Consumer electronic firm Ceconomy has also moved sharply after sales for the first quarter dropped slightly to 7.0 billion euros. --------------------------------------------------------------- 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 ended mixed in thin trading on Friday, with markets in China, Indonesia, Taiwan and South Korea closed for public holidays. Gold held steady in Asian trading and the dollar traded higher as investors awaited annual revisions to monthly U.S. inflation data due later in the day for clues to the Federal Reserve's progress in taming consumer prices. On Thursday, Federal Reserve Bank of Richmond President Thomas Barkin said that the U.S. central bank has time to be patient before cutting rates. Oil prices were on course for a weekly gain after hopes of a ceasefire between Israel and Hamas fizzled out. Hong Kong's Hang Seng Index fell 0.8 percent to 15,746.58, extending losses for a third day running on concerns over China's struggling economy and heightened geopolitical tensions in the Middle East. Iran and Iraq have warned that a wave of U.S. strikes against militants backed by Tehran could trigger greater instability across the region. Japanese shares hit fresh 34-year highs before closing on a flat note. Sentiment was underpinned after comments from Bank of Japan governor Kazuo Ueda suggested that the central bank is in no rush to shift its easy policy settings. The Nikkei 225 Index finished marginally higher at 36,897.42, while the broader Topix Index settled 0.2 percent lower at 2,557.88. SoftBank Group surged 8.7 percent to extend gains from the previous session after it posted earnings that beat analysts' expectations. Nissan Motor plunged 11.6 percent after trimming its sales volume forecast for this financial year. Australian markets ended a choppy session marginally higher after Reserve Bank of Australia Governor Michele Bullock said there is some way to go to meet the central bank's inflation target. Technology and telecommunications stocks performed well, while utilities and energy stocks led losses. New Zealand's benchmark S&P NZX-50 Index finished marginally lower at 11,862.95 after ANZ Bank New Zealand forecast that the central bank would raise interest rates twice more this year. --------------------------------------------------------------- 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 edging down $0.07 to $76.15 a barrel after surging $2.36 to $76.22 a barrel on Thursday. Meanwhile, after slipping $3.80 to $2,047.90 an ounce in the previous session, gold futures are dipping $6.40 to $2,041.50 an ounce. On the currency front, the U.S. dollar is trading at 149.27 yen versus the 149.32 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0784 compared to yesterday?s $1.0768. --------------------------------------------------------------- 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