| | | | | | | Stock option alerts by Antivestor. Free Trial. Consistently beat the stock market with 1 trade a day. 68.2% Success rate, Daily stock selection, No payment details needed. Try for free now. | | |
| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | | The major U.S. index futures are pointing to a lower opening on Monday, with the Dow futures down by 83 points. Stocks are poised to extend the modest downward move seen last week.
After an early move to the downside, stocks turned mixed over the course of the trading session on Friday. While the tech-heavy Nasdaq crept into positive territory, the Dow and the S&P 500 remained stuck in the red.
The major averages ended the day on opposite sides of the unchanged line. While the Nasdaq inched up 0.89 points or less than a tenth of a percent to 6,750.94, the Dow slipped 39.73 points or 0.2 percent to 23,442.21 and the S&P 500 edged down 2.32 points or 0.1 percent to 2,582.30.
Even with the mixed performance on the day, the major averages all moved lower for the week. The Dow fell by 0.5 percent, while the Nasdaq and the S&P 500 both dipped by 0.2 percent.
The weekly declines ended eight-week winning streaks by the Dow and the S&P 500 and a six-week winning streak by the Nasdaq.
The mixed close on the day came as traders continued to digest the details of the Senate Republican version of tax reform legislation.
The Senate bill includes some significant differences from the House version, including a delay in the implementation of a cut in the corporate tax rate.
While the Senate version still reduces the corporate tax rate to 20 percent from 35 percent, the new rate would not take effect until 2019. The House bill would start the 20 percent rate next year.
A number of other differences related to issues such as deductions and the estate tax have raised some questions about the outlook for tax reform.
House Republicans could pass their version as early as next week, although it remains to be seen if GOP lawmakers can overcome the differences in the two bills to get legislation to the president's desk.
On the economic front, a report from the University of Michigan showed a bigger than expected pullback in consumer sentiment in the month of November.
The report said the preliminary reading on the consumer sentiment index for November came in at 97.8 compared to the final October reading of 100.7. Economists had expected the index to dip to 100.0.
The bigger than expected decrease by the consumer sentiment index came after it surged up to a thirteen-year high in October.
Among individual stocks, shares of J.C. Penney (JCP) closed sharply higher after the department store operator reported a narrower than expected third quarter loss on better than expected revenues.
Graphics chip maker Nvidia (NVDA) also showed a strong move to the upside after reporting third quarter results that beat analyst estimates on both the top and bottom lines.
On the other hand, shares of Finish Line (FINL) saw significant weakness after Cowen downgraded its rating on the athletic apparel retailer to Underperform from Market Perform.
Digital ad placement company The Trade Desk (TTD) also posted a steep loss after reporting better than expected third quarter results but providing disappointing revenue guidance.
Sector News
Reflecting the lackluster close by the broader markets, most of the major sectors ended the day showing only modest moves.
Gold stocks saw notable weakness, however, with the NYSE Arca Gold Bugs Index sliding by 1.2 percent. The losses by gold stocks came as the price of gold for December delivery slumped $13.30 to $1,274.20 an ounce.
On the other hand, electronic storage stocks showed a strong move to the upside, driving the NYSE Arca Disk Drive Index up by 1.2 percent. With the gain, the index reached its best closing level in over two years. |
| | Bitcoin Blueprint | | See How the Secret “Bitcoin Blueprint” Could Have Generated $1.64 Million in 72 Hours. There are now over 831 different alternative currencies driving this RED-HOT market. Click here to find out how to turn $20 into an absolute fortune with cryptocurrencies. |
| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | The economic calendar for the week starts off relatively quiet, although several key reports are scheduled to be released in the coming days.
Traders are likely to keep an eye on reports on producer and consumer prices, retail sales, industrial production, and housing starts. |
| | Trump's Set to Send this $0.24 Stock Exploding Higher! | | Trump's Set to Send this $0.24 Stock Exploding Higher! Investors in this tiny company will love Trump for what he’s about to do. This entire situation will change after December 31. Click here for the details. |
| | Stocks In Focus |
Shares of The Trade Desk (TTD) are moving sharply lower in pre-market trading after the digital ad placement company reported better than expected third quarter results but provided disappointing revenue guidance.
Residential real estate company Redfin (RDFN) may also come under pressure after reporting third quarter results that came in below analyst estimates.
Shares of Finish Line (FINL) could also move to the downside after Cowen downgraded its rating on the athletic apparel retailer to Underperform from Market Perform.
On the other hand, shares of J.C. Penney (JCP) are spiking higher in pre-market trading after the department store operator reported a narrower than expected third quarter loss on better than expected revenues.
Graphics chip maker Nvidia (NVDA) is also likely to move to the upside after reporting third quarter results that beat analyst estimates on both the top and bottom lines.
Shares of Omeros (OMER) are also seeing significant pre-market strength after the biopharmaceutical company reported strong third quarter results. |
| | Strategic Intelligence | | What’s the one money move that’s almost predestined to soar under Trump? It’s not a stock, a mutual fund or even real estate.
Click here to find out what it is. |
| | Europe markets | | European stocks were subdued on Monday as ongoing concerns over Brexit negotiations and U.S. tax reform plans continued to keep investors nervous.
Disappointing bank lending data from China also weighed on markets on a light day on the economic front.
The pan-European Stoxx Europe 600 index was down 0.30 percent at 387.52 in late opening deals after falling 0.4 percent on Friday to hit its lowest level since Oct. 25.
The German DAX was moving down 0.1 percent and France's CAC 40 index was declining 0.2 percent while the U.K.'s FTSE 100 was rising 0.3 percent, helped by a weaker pound in the wake of reports that 40 Tory MPs are prepared to sign a letter of no confidence in leader Theresa May.
Italian telecommunications firm Telecom Italia lost 2.60 percent on reporting a drop in Q3 profit, hit by higher operating expenses.
French utility EDF plunged 8 percent after cutting its profit forecast for next year.
Dignity shares fell more than 4 percent after the British funeral operator warned of rising costs amid intense competition.
Coca Cola HBC lost 6 percent after a stock rating downgrade by research analysts at J P Morgan Chase & Co.
Higher copper prices helped lift mining stocks, with Anglo American and BHP Billiton rising about half a percent each. Rio Tinto advanced 0.7 percent after completing a $750m share buy-back.
British power generation and temperature control rental provider Aggreko rallied 2.5 percent after appointing Heath Drewett as its chief financial officer.
Housebuilder Taylor Wimpey gained 1 percent after reporting strong sales for the second half of 2017.
Swiss pharmaceutical company Novartis rose 0.8 percent after announcing collaboration with Homology Medicines to develop therapies for genetic blood and eye diseases.
Deutsche Post shares rose about 1 percent amid reports that the German logistics group aims to give its in-house StreetScooter electric delivery vehicles more autonomy. |
| | Discover the NUMBER 1 Trading Strategy You Need to Know During Uncertain Market Conditions. Consistent and safe returns up to 40%
Download Free Training Material |
| | Asia markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | Asian stocks closed on a mixed note on Monday as U.S. President Donald Trump's tour of Asia continued and investors awaited a slew of data from China, Japan and Australia this week for directional cues. Concerns about political instability in the U.K. and Saudi Arabia also weighed on markets.
The pound came under selling pressure after the Sunday Times reported that 40 Conservative members of Parliament intend to sign a letter of no-confidence in British Prime Minister Theresa May.
A surge in financials following Beijing's deregulation in the financial sector helped Chinese stocks finish the day solidly higher.
The benchmark Shanghai Composite index rose 15.16 points or 0.44 percent to 3,447.84 while Hong Kong's Hang Seng index was up 0.36 percent at 29,227 in late trade.
Japanese shares fell sharply to end near two-week low, with realty and technology stocks pacing the decliners after recent rallies.
The Nikkei average tumbled 300.43 points or 1.32 percent to 22,380.99, extending losses for the fourth straight session and marking its lowest closing level since Oct. 31. The broader Topix index finished 0.94 percent lower at 1,783.49.
Realty stocks such as Mitsubishi Estate and Mitsui Fudosan lost 3-4 percent while tech stocks Tokyo Electron and Advantest declined 1-2 percent. Nissin Foods Holdings soared over 7 percent on solid earnings results.
Australian shares closed slightly lower, dragged down by financials as banks ANZ and Westpac fell sharply after going ex-dividend. ANZ shares lost 2.7 percent while Westpac fell 2.4 percent.
The benchmark S&P/ASX 200 index slid 7.60 points or 0.13 percent to 6,021.80 while the broader All Ordinaries index ended down 7.10 points or 0.12 percent at 6,097.20.
Higher base metals prices helped lift miners, with heavyweights BHP Billiton and Rio Tinto closing up around 1 percent each. The Aussie dollar was little changed despite upbeat comments from the Reserve Bank of Australia deputy governor Guy Debelle and the escalating citizenship MP eligibility fiasco. |
| | You'll Need This Book | | How To Increase Your Social Security Benefits By As Much As $570 Per Month With One Single Word. Click here to learn more |
| | Commodity, Currency Markets | | Crude oil futures are inching up $0.13 to $56.87 a barrel after falling $0.43 to $56.74 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,277.80, up $3.60 from the previous session’s close of $1,274.20. On Friday, gold slumped $13.30.
On the currency front, the U.S. dollar is trading at 113.30 yen compared to the 113.53 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1667 compared to last Friday’s $1.1665. |
| | | | | | | 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 +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49 | |
No comments:
Post a Comment