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Construction Spending Report Due
The Commerce Department is scheduled to release its report on construction spending in the month of November at 10 am ET. Economists expect construction spending to climb by 0.5 percent in November following a 0.6 percent increase in October.
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Profit Taking, Slump By Apple May Weigh On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to see further downside following the pullback to close out 2023. Profit taking may contribute to initial weakness on the first trading day of the new year, as some traders look to cash in on last year’s substantial…
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Premarket Movers: ASML, Coinbase, Tesla, BYD
ASML fell 1.1% after the Dutch government blocked the company from exporting to China certain lithography systems , which are essential to making advanced microprocessors. WSJ reported the rule came after officials from the Netherlands, Japan, and the U.S. reached an agreement to start restricting such exports. Coinbase Global was up 6.4%, MicroStrategy rose 9.2%,…
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Oil Prices Jump
Oil prices moved sharply higher after attacks on ships in the Red Sea by rebel Houthi forces added to worries that the war in Gaza could spread further into the Middle East. The U.S. destroyed three boats carrying militants supported by Iran on Sunday after a Maersk-owned container ship came under attack from Houthi forces…
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Dollar Up As Markets Await Fed Announcement
The dollar rose against a basket of currencies as the market awaits economic data releases this week for insight into the Fed’s next move, XS.com said. “It seems that the main driver for [the dollar for] 2024 is whether the markets will continue to price in Federal [Reserve] interest rate cuts or if the Fed…
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Stock Futures Struggle After Weak China Data
Stock futures struggled for traction on Tuesday after some soft data from China raised concerns about the health of the global economy. Hong Kong’s Hang Seng shed 1.5% and the Shanghai Composite dipped 0.4% after an official report over the weekend showed China’s factory activity in December eased to its slowest pace in six months…
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US Futures, European Stocks Climb
U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average climbed 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.4% in morning trading. Uniper added 9.3% and MorphoSys rose 5.6%. On the other hand, Idorsia slipped…
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Top Company News of the Day: ASML, Baidu, Evergrande, Ikea
Netherlands Blocks ASML Exports of Chip-Making Equipment to China ASML said the Dutch government has blocked the company’s exports to China of some chip-making equipment in a partial license revocation following U.S. export restrictions. Baidu Terminates $3.6B Deal to Buy JOYY’s China Live-Streaming Business Baidu has called off a $3.6 billion deal to buy JOYY’s…
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U.S. Stocks Give Back Ground But Still Post Substantial Gains For The Year
Following the lackluster performance seen in recent sessions, stocks fluctuated over the course of the trading session on Friday before ending the day mostly lower. The major averages showed a lack of direction in early trading but slid more firmly into negative territory as the session progressed. Despite an afternoon recovery attempt, the major averages…
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Crypto: Selling Pressure and Option Expiry Impacting BTC and ETH, OKX Delisting Shaking Privacy Coins, and More
Selling pressure and option expirations mark eventful week for Bitcoin and Ethereum This week saw selling pressure among Bitcoin miners, with reserves hitting their lowest level since May, reflecting a steady decline since October. Currently, reserves are at about 1.832 million BTC, with around 3,000 bitcoins sold in the last 24 hours. The market value…