| | | | | | | Do you want to earn $5k+ per week from trading? Start making money in as little as 20 minutes per day. It really is possible with the right strategy. 28 day free trial. Register for free trial | | |
| | 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 Thursday, with stocks likely to move back to the downside following the strength seen in the previous session.
The downward momentum for the markets comes as traders react to the latest batch of earnings news from several big-name companies.
Shares of J.C. Penney (JCP) are moving sharply lower in pre-market trading after the department store chain reported a narrower than expected first quarter adjusted loss but cut its full-year earnings guidance.
Network equipment maker Cisco Systems (CSCO) may also come under pressure after reporting better than expected fiscal third quarter earnings but providing a disappointing forecast.
On the other hand, shares of Wal-Mart (WMT) are likely to move to the upside after the retail giant reported first quarter results that exceeded analyst estimates on both the top and bottom lines.
Stocks fluctuated over the course of the trading session on Wednesday but largely maintained a positive bias before closing mostly higher. The upward move on the day came on the heels of the sharp pullback seen in the previous session.
The major averages closed in positive territory but well off their highs of the session. The Dow rose 62.52 points or 0.3 percent to 24,768.93, the Nasdaq advanced 46.67 points or 0.6 percent to 7,398.30 and the S&P 500 climbed 11.01 points or 0.4 percent to 2,722.46.
The strength on Wall Street partly reflected a positive reaction to earnings news from Macy's (M), with the department store operator surging up by 10.8 percent.
Macy's jumped to its best closing level in over a year after reporting better than expected first quarter results and providing upbeat guidance.
Buying interest was somewhat subdued, however, with geopolitical uncertainty keeping some traders on the sidelines after North Korea threatened to cancel an historic meeting between leader Kim Jong Un and President Donald Trump.
In a statement published by the state-run Korean Central News Agency, North Korean First Vice Minister of Foreign Affairs Kim Kye Gwan suggested that Trump must accept the reclusive communist country as a nuclear power.
"If the U.S. is trying to drive us into a corner to force our unilateral nuclear abandonment, we will no longer be interested in such dialogue and cannot but reconsider our proceeding to the DPRK-U.S. summit," Kim said.
Kim pointed to "unbridled remarks" by U.S. officials such as National Security Adviser John Bolton calling on North Korea to abandon nuclear weapons first and be compensated afterward.
The statement from Kim came after North Korea canceled high-level talks with South Korea planned for Wednesday over U.S.-South Korean military drills.
Despite the threats, White House Press Secretary Sarah Sanders said the administrations remains hopeful the meeting will take place.
On the U.S. economic front, the Commerce Department released a report showing a sharp pullback in new residential construction in the month of April.
The report said housing starts plunged by 3.7 percent to an annual rate of 1.287 million in April after jumping by 3.6 percent to an upwardly revised 1.336 million in March.
Economists had expected housing starts to drop to an annual rate of 1.310 million from the 1.319 million originally reported for the previous month.
The Commerce Department said building permits also tumbled by 1.8 percent to an annual rate of 1.352 million in April after surging up by 4.1 percent to an upwardly revised 1.377 million in March.
Building permits, an indicator of future housing demand, had been expected to edge down to 1.350 million from the 1.354 million originally reported for the previous month.
A separate report from the Federal Reserve showed industrial production increased by slightly more than anticipated in the month of April.
The Fed said industrial production climbed by 0.7 percent in April, matching the upwardly revised increase in March. Economists had expected industrial production to rise by 0.6 percent.
Steel stocks turned in some of the market's best performances, resulting in a 2.1 percent jump by the NYSE Arca Steel Index. With the gain, the index reached its best closing level in well over two months.
Considerable strength also emerged among computer hardware stocks, as reflected by the 1.5 percent gain posted by the NYSE Arca Computer Hardware Index. The advance lifted the index to a record closing high.
Hard drive and memory chip maker Western Digital (WDC) lead the hardware sector higher, surging up by 4.9 percent on the day.
Semiconductor stocks also showed a significant move to the upside, driving the Philadelphia Semiconductor Index up by 1.4 percent.
Micron Technology (MU) posted a standout gain after RBC Capital initiated coverage of the chipmaker's stock with an Outperform rating.
Tobacco, oil service, and natural gas stocks also saw notable strength on the day, while weakness was visible among utilities stocks.
|
| | Eccentric Millionaire Reveals His Secret $1.8 Million Cryptocurrency Script Click here |
| | U.S. Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits increased by more than anticipated in the week ended May 12th.
The report said initial jobless claims rose to 222,000, an increase of 11,000 from the previous week?s unrevised level of 211,000. Economists had expected jobless claims to inch up to 215,000.
Meanwhile, a separate report from the Philadelphia Federal Reserve unexpectedly showed a significant acceleration in the pace of growth in regional manufacturing activity in the month of May.
The Philly Fed said its diffusion index for current general activity jumped to 34.4 in May from 23.2 in April, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to dip to 21.0.
At 10 am ET, the Conference Board is scheduled to release its report on leading economic indicators in the month of April. The leading economic index is expected to climb by 0.4 percent.
Minneapolis Federal Reserve President Neel Kashkari is due to participate in a moderated Q&A with Julie Gugin, the executive director of the Minnesota Home Ownership Center, in Minnesota, at 10:45 am ET.
At 11 am ET, the Treasury Department is scheduled to announce the details of next week?s auctions of two-year, five-year, and seven-year notes.
Dallas Fed President Robert Kaplan is due to participate in a moderated Q&A at the Richardson Chamber of Commerce in Richardson, Texas, at 1:30 pm ET.
|
| | Is Donald Trump Launching a NEW SOCIAL SECURITY PROGRAM? Click here for the details. |
| | Stocks in Focus |
Chinese Internet technology company NetEase (NTES) may come under pressure after reporting first quarter earnings that came in below analyst estimates.
Shares of Jack In The Box (JACK) are also seeing pre-market weakness after the fast food chain reported fiscal second quarter results that came in below analyst estimates on both the top and bottom lines.
On the other hand, shares of Loxo Oncology (LOXO) are moving sharply higher in pre-market trading after the drug developer reported preliminary results suggesting its new experimental cancer drug shows promise.
Department store operator Dillard?s (DDS) may also see early strength after reporting first quarter earnings that exceeded analyst estimates.
Shares of Coca-Cola (KO) may also move to the upside after Barclays upgraded its rating on the beverage giant?s stock to Overweight from Equal Weight. |
| | 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 |
European stocks are broadly higher on Thursday as firmer commodity prices have helped lift resource stocks and Italian equities recovered some lost ground as the country looks set to finally get a collation government.
While the French CAC 40 Index has advanced by 0.5 percent, the German DAX Index and the U.K.?s FTSE 100 Index are up by 0.3 percent and 0.2 percent, respectively.
Daimler has risen while Deutsche Telekom has fallen slightly after they settled a 14-year old truck-toll dispute with the German government.
Italian telecom giant Telecom Italia has advanced after its first quarter sales topped forecasts.
Renault, Peugeot, BMW and Volkswagen have moved to the upside after industry data showed European car registrations grew 9.6 percent year-on-year in April.
Media conglomerate Lagardère has also rallied after delivering 5 percent growth in like-for-like revenue for the first-quarter 2018, fueled by organic growth momentum at Lagardère Travel Retail and a good performance from Lagardère Publishing.
Ocado shares have soared after the online grocer struck a deal with U.S. retail giant Kroger.
Meanwhile, holidays group Thomas Cook has tumbled after reporting a pre-tax loss during its first-half.
|
| | 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 | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
Asian stocks ended mixed on Thursday as investors kept an eye on political developments in Italy and looked ahead to the beginning of trade talks between China and the U.S. later in the day.
China?s Shanghai Composite Index dropped 15.33 points or 0.5 percent to 3,154.24, while Hong Kong's Hang Seng Index fell 168.05 points or 0.5 percent to 30,942.15.
Meanwhile, Japanese shares closed higher as a rally by technology and financial stocks helped investors shrug off weak machinery orders data.
The total value of core machine orders in Japan dropped 3.9 percent in March, the Cabinet Office said, coming in at 856.6 billion yen. That missed expectations for a decline of 3.0 percent following the 2.1 percent increase in February.
The benchmark Nikkei 225 Index climbed 121.14 points or 0.5 percent to 22,838.37, while the broader Topix Index closed 0.5 percent higher at 1,808.37.
Australian shares fell modestly on China trade concerns. The benchmark S&P/ASX 200 Index dipped 12.70 points or 0.2 percent to 6,094.30, and the broader All Ordinaries Index edged down 10.90 points or 0.2 percent to 6,197.20.
Westpac Bank shares fell 3.7 percent on going ex-dividend, while the other three major banks rose between 0.3 percent and 0.8 percent. Treasury Wine Estates plummeted 6.2 percent after the winemaker said it was experiencing delays in shipments to China.
Toll-road operator Transurban Group lost 1.7 percent as Australia's competition regulator raised concerns about the effects on inter-toll road competition if it acquired WestConnex.
Oil and gas producer Santos declined 1.9 percent after it received a $10.36 billion binding takeover offer from U.S.-based Harbour Energy.
On the other hand, strength in commodity prices supported miners, with heavyweights BHP Billiton and Rio Tinto rising 1.3 percent and 2.4 percent, respectively.
Lithium miner Kidman Resources rallied 2.8 percent after it signed a pact to supply lithium hydroxide to electric car maker Tesla Inc.
On the data front, the jobless rate in Australia came in at a seasonally adjusted 5.6 percent in April, the Australian Bureau of Statistics said. That exceeded expectations for 5.5 percent, which would have been unchanged from March.
The economy added 22,600 jobs last month, beating forecasts for 20,000 jobs following the addition of 4,900 jobs in the previous month.
|
| | 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 |
| | Commodities |
Crude oil futures are climbing $0.56 to $72.05 a barrel after edging up $0.18 to $71.49 a barrel on Wednesday. Meanwhile, an ounce of gold is trading at $1,288.10, down $3.40 compared to the previous session?s close of $1,291.50. On Wednesday, gold rose $1.20.
On the currency front, the U.S. dollar is trading at 110.79 yen compared to the 110.40 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1793 compared to yesterday?s $1.1808.
|
| | | | | | | 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