| How to collect Up to $10,670 in "FREE" Crypto...? Act Now So You Don't Miss the Next FREE Crypto "Airdrop" Coming Tuesday, October 2, 2018 Click Here...  | | | | The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to move to the upside following the mixed performance seen in the previous session.
Early buying interest is likely to be generated by news U.S. and Canadian officials agreed on a trade deal to replace the North American Free Trade Agreement shortly before a midnight deadline.
The new trade deal, called the United States-Mexico-Canada Agreement, or USMCA, will reportedly provide more market access to U.S. dairy farmers and effectively cap Canadian automobile exports to the U.S.
A joint statement by U.S. Trade Representative Robert Lighthizer and Canadian Foreign Affairs Minister Chrystia Freeland said the agreement will ?strengthen the middle class, and create good, well-paying jobs and new opportunities for the nearly half billion people who call North America home.?
President Donald Trump, a harsh critic of NAFTA, also praised the USMCA as a ?historic transaction? in a post on Twitter on Monday.
?It is a great deal for all three countries, solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our Farmers and Manufacturers, reduces Trade Barriers to the U.S. and will bring all three Great Nations together in competition with the rest of the world,? Trump tweeted.
The leaders of the U.S., Canada, and Mexico are expected to sign the new agreement before the end of November, although it will still need to be approved by Congress.
After ending the previous session mostly higher, stocks fluctuated over the course of the trading session on Friday. The major averages spent the day bouncing back and forth across the unchanged line before ending the day roughly flat.
The major averages eventually ended the day on opposite sides of the unchanged line. While the S&P 500 edged down by just 0.02 points to 2,913.98, the Dow inched up 18.38 points or 0.1 percent to 26,458.31 and the Nasdaq crept up 4.38 points or 0.1 percent to 8,046.35.
For the week, the Nasdaq climbed by 0.7 percent, while the Dow slumped by 1.1 percent and the S&P 500 fell by 0.5 percent.
Uncertainty about trade contributed to the lackluster performance on Wall Street as the U.S. and Canada approached a September 30th deadline to reach an agreement for Canada to join a trade deal struck between the U.S. and Mexico.
U.S. Trade Representative Robert Lighthizer recently said the U.S. was prepared to move ahead with the deal replacing the North American Free Trade Agreement without Canada.
Traders also kept an eye on developments overseas after the new Italian government offered a budget with a deficit target three times larger than the previous administration's goal.
In U.S. economic news, the Commerce Department released a report showing personal income rose by slightly less than expected in the month of August, while personal spending increased in line with economist estimates.
The report said personal income climbed by 0.3 percent in August, matching the increase seen in July. Economists had expected income to rise by 0.4 percent.
Meanwhile, the Commerce Department said personal spending rose by 0.3 percent in August after climbing by 0.4 percent in the previous month. Spending had been expected to increase by 0.3 percent.
A separate report from the University of Michigan showed consumer sentiment improved by slightly less than initially estimated in the month of September.
The report said the consumer sentiment index for September was downwardly revised to 100.1 from the preliminary reading of 100.8. Economists had expected the index to be unrevised.
Despite the downward revision, the final reading for September still reflects a notable increase from the final August reading of 96.2.
Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.
Utilities and commercial real estate stocks saw considerable strength, while notable weakness was visible among tobacco and banking stocks.
| | | | | Get Your FREE Hardcover Copy James Altucher Reveals How He Went From "Face Down in the Gutter" Broke to Loving the Work He Does Every Single Day and FINALLY Being Financially Free?and the Step-by-Step Blueprint You Can Use To? READ MORE..  | | | |
At 10 am ET, the Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of September.
The ISM?s purchasing managers index is expected to dip to 60.3 in September from 61.3 in August, although a reading above 50 would still indicate growth in the manufacturing sector.
The Commerce Department is also due to release its report on construction spending in the month of August at 10 am ET. Construction spending is expected to climb by 0.5 percent.
At 11 am ET, Minneapolis Federal Reserve President Neel Kashkari is scheduled to participate in a moderated town hall in Minnetonka, Minnesota.
Boston Fed President Eric Rosengren is due to speak at the 60th National Association for Business Economics Annual Meeting in Boston, Massachusetts, at 12:15 pm ET.
| | | | | Eccentric Millionaire Reveals His Secret $1.8 Million Cryptocurrency Script Click here | | | |
Shares of General Electric (GE) are moving sharply higher in pre-market trading after the industrial conglomerate announced Chairman and CEO John Flannery is stepping down and will be replaced by Lawrence Culp. GE also announced a $23 billion charge related to its struggling power business.
Electric car maker Tesla (TSLA) may also see an initial jump after CEO Elon Musk settled fraud charges with the Securities and Exchange Commission.
On the other hand, shares of Cal-Maine Foods (CALM) may come under pressure after the egg producer reported weaker than expected fiscal first quarter results and lowered its quarterly dividend.
Restaurant chain Chipotle Mexican Grill (CMG) is also seeing some pre-market weakness after Oppenheimer downgraded its rating on the company?s stock to Underperform from Perform. | | | | | Become a Shareholder in High Times The Original Voice of Cannabis. Join our investor community and help shape the emerging cannabis industry.
Click Here | | | |
European stocks have rebounded on Monday amid easing trade concerns after the U.S. and Canada reached an agreement on the framework of a new trade deal.
While the German DAX Index has advanced by 0.7 percent, the French CAC 40 Index is up by 0.3 percent and the U.K.?s FTSE 100 Index is up by 0.2 percent.
Swiss bakery business Aryzta has soared after the company forecast stable underlying results in fiscal 2019 after narrowing its fiscal 2018 loss.
Linde AG has also advanced. The company has received approval for its proposed $83 billion merger with Praxair from the Chinese antitrust authority.
French supermarket group Casino has also moved to the upside after it agreed to sell some property assets for 565 million euros to reduce debt levels.
Meanwhile, Ryanair has slumped in London. The airline cut its forecast for full-year profits, citing rising oil prices and the impact of recent coordinated strikes across Europe.
In economic news, Eurozone manufacturing activity grew at the weakest pace in two years in September, final data from IHS Markit showed. The factory Purchasing Managers Index fell to 53.2 from 54.6 in August, dropping to the lowest level since September of 2016. The initial estimate was 53.3.
The euro area jobless rate fell to 8.1 percent in August from 8.2 percent in July, Eurostat reported. This was the lowest since November of 2008.
German retail sales grew by real 1.6 percent year-on-year in August, faster than the 0.9 percent expansion seen a month ago, figures from Destatis showed. The annual rate came in line with expectations.
The U.K. manufacturing sector expanded at a faster pace in September, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed.
The manufacturing Purchasing Managers' Index rose to 53.8 in September from 53.0 in August, which was upwardly revised from 52.8.
The pound rose after Chancellor of the Exchequer Philip Hammond said the European Union was in the mood to do a divorce deal, but uncertainty over Brexit had already hit the U.K.?s economy.
| | | | | Get your free PlusOne Coin. Plus One Coin (PLUS1) is a social media cryptocurrency where users can up-vote content and other social media. Claim it free from sponsored faucets here.. | | | |
Asian stocks ended mixed on Monday as trade worries persisted and investors digested weak data from China and Japan.
China?s official manufacturing purchasing managers index dropped to 50.8 in September from 51.3 in August, raising concerns about the demand outlook. The Caixin manufacturing PMI declined to 50.0 from 50.6, hitting the lowest level since May of 2017.
Gold dipped and the dollar firmed up against the yen after the U.S. and Canada reached an agreement on a framework for replacement for the North American Free Trade Agreement. Markets in China and Hong Kong were closed for holidays.
Japanese shares hit a 27-year high on earnings optimism, as the yen extended its weakening trend on news of a new agreement between the U.S. and Canada to replace NAFTA.
The Nikkei 225 Index climbed 125.72 points or 0.5 percent to close at 24,245.76 after reaching as high as 24,306.54, its highest level since November of 1991, earlier in the day.
The broader Topix Index ended little changed at 1,817.96 after a key quarterly economic survey by the Bank of Japan showed that business confidence among large Japanese manufacturers declined for the third straight quarter.
Separately, the latest survey from Nikkei revealed that the manufacturing sector in Japan continued to expand at a steady pace in September, with a manufacturing PMI score of 52.5, unchanged from the previous month.
Exporters Canon, Bridgestone, Panasonic and Fanuc rose between 0.6 percent and 1.4 percent. Itochu Corp. soared 7 percent after announcing it would cancel 4.69 percent of its outstanding stock.
Meanwhile, Subaru Corp tumbled 2.1 percent after the automaker recalled over 40,000 vehicles due to brake safety concerns.
Australian shares fell notably, with mining stocks pacing the decliners after data showed a slowdown in China's manufacturing sector in September.
The benchmark S&P/ASX 200 Index lost 35.30 points or 0.6 percent to finish at 6,172.30, while the All Ordinaries Index ended down 32.80 points or 0.5 percent at 6,292.70.
Mining giants Rio Tinto and BHP Billiton edged down slightly, and South32 lost 1 percent. The big four banks fell between 0.8 percent and 1.6 percent amid calls to extend the banking royal commission inquiry.
Energy stocks ended mixed despite oil prices rising more than 1 percent on Friday. Healthcare stocks gained ground, with CSL rising 1.1 percent and Cochlear adding 0.2 percent.
In economic news, the latest survey from the Australian Industry Group revealed that the manufacturing sector in Australia expanded at a faster rate in September, with a Performance of Manufacturing Index score of 59.0. That was up from 56.7 in August.
| | | |
Crude oil futures are rising $0.21 to $73.46 a barrel after jumping $1.13 to $73.25 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,194.80, down $1.40 from the previous session?s close of $1,196.20. On Friday, gold climbed $8.80.
On the currency front, the U.S. dollar is trading at 113.90 yen compared to the 113.70 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1623 compared to last Friday?s $1.1604.
| |
| | 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 | |
ADVFN Le point sur les Marchés ...
-
Cher membre, Bienvenue chez ADVFN ! Veuillez cliquer ici pour activer votre...
-
Cher membre, Bienvenue chez ADVFN ! Veuillez cliquer ici pour activer votre...
| | | | |
No comments:
Post a Comment