| | | | | | | 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 roughly flat opening on Wednesday, with stocks likely to show a lack of direction following the mixed performance seen in the previous session.
Traders are likely to remain reluctant to make significant moves ahead of the Federal Reserve?s monetary policy announcement this afternoon.
The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about the outlook for rates.
The looming Fed announcement may overshadow the release of a report from payroll processor ADP showing private sector employment in the U.S. increased by slightly more than anticipated in the month of April.
After seeing weakness throughout much of the session, stocks turned mixed over the course of the trading day on Tuesday. While the Nasdaq and the S&P 500 climbed into positive territory, the Dow remained stuck in the red.
The Dow fell 64.10 points or 0.3 percent to 24,099.05, while the Nasdaq advanced 64.44 points or 0.9 percent to 7,130.70 and the S&P 500 rose 6.75 points or 0.3 percent to 2,654.80.
The mixed closed on Wall Street came as traders looked ahead to the Federal Reserve's monetary policy announcement this afternoon.
The tech-heavy Nasdaq benefited from a notable advance by Apple (AAPL), which climbed by 2.3 percent ahead of the release of its fiscal second quarter results after the close of trading.
On the other hand, a steep drop by Pfizer (PFE) weighed on the Dow, with the drug giant slumping by 3.3 percent after reporting better than expected first quarter earnings but weaker than expected sales.
In U.S. economic news, the Institute for Supply Management released a report showing growth in manufacturing activity slowed by more than anticipated in the month of April.
The ISM said its purchasing managers index dropped to 57.3 in April from 59.3 in March, although a reading above 50 still indicates growth in the manufacturing sector. Economists had expected the index to dip to 58.3.
A separate report released by the Commerce Department unexpectedly showed a steep drop on construction spending in the month of April.
The Commerce Department said construction spending slump by 1.7 percent to an annual rate of $1.285 trillion in March after jumping by 1.0 percent to a revised rate of $1.306 trillion in February.
Computer hardware stocks showed a significant move to the upside over the course of the trading session, driving the NYSE Arca Computer Hardware Index up by 2.3 percent.
Notable strength was also visible among semiconductor stocks, as reflected by the 1.7 percent gain posted by the Philadelphia Semiconductor Index.
Housing and biotechnology stocks also moved higher on the day, while oil service stocks came under pressure amid a decrease by the price of crude oil.
|
| | 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 payroll processor ADP showed private sector employment in the U.S. increased by slightly more than anticipated in the month of April.
ADP said private sector employment surged up by 204,000 jobs in April after spiking by a revised 228,000 jobs in March.
Economists had expected private sector employment to shoot up by about 200,000 jobs compared to the jump of 241,000 jobs originally reported for the previous month.
At 10:30 am ET, the Energy Information Administration is scheduled to release its report on oil inventories in the week ended April 27th.
Crude oil inventories are expected to increase by 1.3 million barrels after climbing by 2.2 million barrels in the previous week.
The Federal Reserve is scheduled to announce its latest monetary policy decision at 2 pm ET.
|
| | Is Donald Trump Launching a NEW SOCIAL SECURITY PROGRAM? Click here for the details. |
| | Stocks in Focus |
Shares of Apple (AAPL) are moving sharply higher in pre-market trading after the tech giant reported fiscal second quarter results that beat analyst estimates on both the top and bottom lines.
Apple also said its board approved a new $100 billion share repurchase authorization and a 16 percent increase in its quarterly dividend.
Network gear maker Juniper Networks (JNPR) is also seeing pre-market strength after reporting better than expected first quarter results and raising its forecast for the current quarter.
Shares of CVS Health (CVS) may also move to the upside after the drugstore chain reported first quarter earnings that exceeded expectations and provided upbeat guidance.
On the other hand, shares of Molson Coors (TAP) may come under pressure after the brewer reported weaker than expected first quarter results.
Snapchat parent Snap Inc. (SNAP) is also likely to see early weakness after reporting a first quarter loss that matched estimates but revenues that came in below expectations.
Shares of Gilead Sciences (GILD) are also moving to the downside in pre-market trading after the biotechnology company reported first quarter results that missed analyst estimates. |
| | 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 |
Following the Labor Day holiday on Tuesday, European stocks have moved to the upside during trading on Wednesday.
While the German DAX Index has jumped by 1.2 percent, the U.K.?s FTSE 100 Index is up by 0.4 percent and the French CAC 40 Index is up by 0.1 percent.
The positive trend across Europe is due largely to some buoyant corporate earnings reports. The Federal Reserve's monetary policy is due for release later in the day, but for now, traders seem keen on picking up stocks, betting on hopes companies will continue to report impressive numbers.
In economic news, the preliminary flash estimate from Eurostat showed the euro area economy expanded at a slower pace in the first quarter, with gross domestic product growing 0.4 percent sequentially, slower than the 0.7 percent expansion seen in the fourth quarter. However, the increase was in line with expectations.
On a yearly basis, economic growth eased as expected to 2.5 percent in the first quarter from 2.8 percent in the fourth quarter.
A separate report from Eurostat showed the euro area unemployment rate remained unchanged in March, holding steady at 8.5 percent, the lowest since December of 2008.
|
| | 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 markets exhibited a mixed trend amid largely stock-specific activity on Wednesday. Movements were a bit sluggish in most of the markets in the region, with traders refraining from making big moves ahead of the Federal Reserve?s monetary policy statement due later in the day.
Chinese stocks ended the day roughly flat following the holiday on Tuesday. The benchmark Shanghai Composite Index closed marginally lower at 3,082.10, while Hong Kong?s Hang Seng Index dipped 84.57 points or 0.3 percent to 30,723.88.
In the Japanese market, technology stocks fared well, but the benchmark Nikkei 225 Index edged down 35.25 points or 0.2 percent to 22,472.78. A slightly weaker yen limited the market's downside.
With the markets to remain closed on Thursday and Friday for public holidays, traders were reluctant to build up positions.
Toyota Motor Corp. shares edged lower after the company reported a 4.7 percent year-over-year decline in vehicle sales in the U.S. in April.
Meanwhile, Australian stocks moved mostly higher on the day. The benchmark S&P/ASX 200 Index climbed 35.00 points or 0.6 percent to 6,050.20, while the broader All Ordinaries Index advanced 36.70 points or 0.6 percent to 6,136.70.
Information technology and consumer discretionary stocks moved higher. Qantas Airways surged up more than 8 percent, and Mineral Resources, ARB Corporation, Nine Entertainment and Fairfax Media gained 5.5 to 7.5 percent.
|
| | 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 rising $0.26 to $67.51 a barrel after plunging $1.32 to $67.25 a barrel on Tuesday. Meanwhile, after tumbling $12.40 to $1,306.80 an ounce in the previous session, gold futures are climbing $2.60 to $1,309.40 an ounce.
On the currency front, the U.S. dollar is trading at 109.79 yen compared to the 109.86 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.2006 compared to yesterday?s $1.1993.
|
| | | | | | | 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