| | | | | | | 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 mixed opening on Tuesday after the upward move to record highs in the previous session.
Stocks moved to the upside in early trading and remained firmly positive throughout the trading session. With upward move on the day, the major averages reached new record closing highs.
The Dow climbed 140.46 points or 0.6 percent to 24,792.20, the Nasdaq advanced 58.18 points or 0.8 percent to 6,994.76 and the S&P 500 58.18 points or 0.1 percent to 6,994.76.
The initial strength on Wall Street partly reflected optimism about the outlook for Republican tax reform, which would cut corporate and individual tax rates.
"The House and Senate have agreed to a unified tax plan, and we will deliver it to the President's desk just in time for Christmas," said House Majority Leader Kevin McCarthy, R-Calif.
He added, "We have been working toward this for years, and now the American people are closer to a plan that will deliver higher wages, lower taxes, a simpler system, and a stronger American economy."
The House is scheduled to vote on the bill on Tuesday, with a vote in the Senate expected to follow short on the heels.
Positive sentiment may also have been generated by a report from the National Association of Home Builders showing an unexpected improvement in homebuilder confidence in the month of December.
The report said the NAHB/Wells Fargo Housing Market Index jumped to 74 in December from a downwardly revised 69 in November.
Economists had expected the index to come in unchanged compared to the 70 originally reported for the previous month.
With the unexpected increase, the housing market index reached its highest level since hitting 75 in July of 1999.
Energy stocks saw considerable strength despite a modest decrease by the price of crude oil. Crude oil for January delivery edged down $0.14 to $57.16 a barrel.
Steel, semiconductor, and airline stocks also saw considerable strength, moving higher along with most of the other major sectors
|
| | Stock option alerts by Antivestor. Free Trial. 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. |
| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | New residential construction in the U.S. unexpectedly increased in the month of November, according to a report released by the Commerce Department.
The report said housing starts jumped 3.3 percent to an annual rate of 1.297 million in November from a revised 1.256 million in October. Economists had expected housing starts to drop by 3.7 percent. |
| | 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. |
| | Europe |
European shares were mixed on Tuesday, with dollar weakness and disappointing business confidence figures from Germany keeping investors cautious ahead of the U.S. House vote on the tax bill later today.
Germany's business confidence weakened in December, survey results from Ifo institute showed. The business sentiment index fell to 117.2 from November's original estimate of 117.5.Economists had forecast the indicator to rise to 117.6 in December.
The pan-European Stoxx Europe 600 index was up 0.2 percent at 393.31 in late opening deals after rallying 1.2 percent the previous day.
The German DAX was little changed and France's CAC 40 was marginally lower, while the U.K.'s FTSE 100 was moving up 0.2 percent.
Intrum Justitia lost over 6 percent amid reports its CEO is leaving the company.
Similarly, Hostelworld Group fell 2 percent in London after its Chief Financial Officer Mari Hurley decided to resign to pursue a new opportunity outside the company.
Old Mutual shares jumped 3.5 percent. The Anglo-South African financial services group is selling its U.K. wealth business run by veteran fund manager Richard Buxton to a private equity firm for 600 million pounds.
Sodexo shares were up nearly 1 percent in Paris. The French group on Monday announced its partnership with India's largest food ordering and delivery platform Swiggy.
German fashion house Hugo Boss rose about 1 percent after its CEO Mark Langer told the Frankfurter Allgemeine Zeitung newspaper that the company's sales growth will outperform the market in 2018.
Deutsche Lufthansa advanced 1.5 percent after announcing plans to launch revenue-based loyalty programs.
|
| | 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. |
| | Asia | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks advanced on Tuesday as investors remained optimistic about the outlook for Republican tax reform and the World Bank raised its forecast for China's growth in 2017, citing rising household incomes and a recovery in global trade.
The U.S. House of Representatives is scheduled to vote on the tax bill later in the day, while a vote in the Senate is expected to follow shortly on the heels.
China's Shanghai Composite index jumped 28.62 points or 0.88 percent to 3,296.54, reflecting gains in other regional markets and overnight gains on Wall Street. Hong Kong's Hang Seng index was up 0.70 percent at 29,253 in late trade.
Japanese shares edged lower amid profit taking as the year-end holiday season approaches. The Nikkei average shed 33.77 points or 0.15 percent to end at
22,868, while the broader Topix index closed 0.15 percent lower at 1,815.18.
Kajima Corp tumbled 5.2 percent, Taisei Corp slumped 6.3 percent and
Shimizu declined 2.8 percent on reports prosecutors had raided their headquarters for alleged anti-trust violations linked to a high-speed rail project.
Australian shares rose, with higher commodity prices and U.S. tax reform hopes buoying investor sentiment. The benchmark S&P/ASX 200 index rose by 32.90 points or 0.54 percent to 6,071.80, while the broader All Ordinaries index ended up 33.20 points or 0.54 percent at 6,163.20.
Mining heavyweights BHP Billiton and Rio Tinto gained around 1 percent each after benchmark nickel prices hit a three-week high on the London Metal Exchange.
Higher gold prices helped lift gold miners, with Newcrest and Evolution Mining rising 1.4 percent and 2.5 percent, respectively.
Lender ANZ advanced 0.7 percent and Commonwealth rose 0.4 percent. Retail Food Group slumped as much as 25.3 percent after a profit warning.
On the economic front, minutes from the Reserve Bank's December meeting revealed that members believe an appreciating exchange rate could throw a wrench into the domestic recovery. In addition, they observed that inflation is nearing the central bank's target range.
|
| | 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. |
| | Commodities |
Crude oil futures are rising $0.22 to $57.38 a barrel after dipping $0.14 to $57.16 a barrel on Monday. Meanwhile, after climbing $8 to $1,265.50 an ounce in the previous session, gold futures are slipping $1.40 to $1,264.10 an ounce.
On the currency front, the U.S. dollar is trading at 112.79 yen compared to the 112.55 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued $1.1828 compared to yesterday?s $1.1782.
|
| | London Market Report | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks edge up after record highs on Wall St but Christmas lull setting in London stocks rose in early trade on Tuesday following record highs on Wall Street on the back of optimism over the tax reform bill, although gains were muted as the Christmas lull began to set in. On Monday, the Nasdaq, Dow Jones and S&P 500 all notched record highs again as investors grew increasingly hopeful that the US tax reform bill will be passed in the coming days. CMC Markets analyst Michael Hewson said: "US equity markets continued where they left off last week once again posting new record highs with the Nasdaq pushing above 7,000 for the first time ever, as more and more Republican senators come out and publicly back the US President's tax reform plans, with many expecting a vote on the plans to take place and be passed later today. Asia markets, with the exception of the Nikkei 225 followed on that US enthusiasm, helped on their way by firmer commodity prices, which have boosted the mining sector. "This week?s optimism has been fuelled by the fact that two previous critics of the reforms in Marco Rubio and Bob Corker have openly said they will back the plans, after initially saying they were unhappy with some elements of the proposed legislation." In corporate news, Old Mutual rallied after it agreed to sell its single strategy business for £600m in a management buyout led by the division's chief executive Richard Buxton. Petrofac gushed higher after it completed the migration of the Santuario production enhancement contract into an interest in a production sharing contract. Indivior nudged up as it entered into an amendment with various lenders to provide replacement term loan facilities in an aggregate principal amount of around $484m, replacing all of its dollar and euro-denominated term loans outstanding under the existing credit agreement. Acacia Mining advanced after agreeing the sale of a non-core royalty over the Houndé Mine in Burkina Faso for $45m. GoCompare racked up healthy gains as the price comparison website announced that it has agreed to buy MyVoucherCodes from Monitise for £36.5m in cash and said 2017 operating profit is expected to be at the upper end of market expectations. On the downside, UDG Healthcare slipped after it announced the appointment of Nigel Clerkin as its chief financial officer, while BHP Billiton ticked down after saying that it is considering leaving the World Coal Association and the US Chamber of Commerce. Associated British Foods and Saga were both in the red after RBC Capital Markets downgraded its ratings on both stocks to 'sector perform'. There are no major UK data releases due. |
| | | | | | | 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