ADVFN US – Market Content Editor
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U.S. Stocks Close On Strong Note; Nasdaq Rises 2.2 Percent
U.S. stocks ended on a buoyant note on Monday, with the Nasdaq outperforming the other major averages thanks to hectic buying in the technology sector. A drop in bond yields, and optimism about the outlook for stocks despite recent uncertainty about the likelihood of near-term interest rate cuts helped push stock prices up. The major…
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Fed’s Consumer Credit Report Due
Atlanta Federal Reserve President Raphael Bostic is scheduled to participate in a moderated conversation on the economic outlook before the Rotary Club of Atlanta at 12:30 pm ET. At 3 pm ET, the Federal Reserve is due to release its report on consumer credit in the month of November. Consumer credit is expected to increase…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Monday, with stocks likely to show a lack of direction after snapping a nine-week winning streak last week. Traders may be reluctant to make significant moves ahead of the release of key U.S. inflation data in the coming days. The Labor…
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Gold and Base Metals Dipped
Base metals mostly dipped along with gold as worries around risk assets like commodities continued to build. BMI said it expects copper to average $8,800 a ton this year, “on the back of a decline in U.S. dollar strength and supply constraints.” However, it added that much of this depends on Chinese demand, with a…
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Coal Equities Strong
In what has been a tough start to the year for most miners, coal has shone, Jefferies said. “The coal equities came flying out of the gates in what was just a continuation of the very strong performance of 2H23,” Jefferies said, adding that coal’s clear outperformance might not last. “We believe the macro backdrop…
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Oil Futures Fall
Oil futures fell around 1% after Saudi Arabia slashed the price for its flagship Arab Light crude to Asian customers, a barometer for how the kingdom sees the demand outlook. “The decrease was larger than the market was expecting,” ING said. “OSPs [official selling prices] for all grades into Europe, the Med and the U.S.…
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Dollar Steady
The dollar traded steady, failing to benefit much from Friday’s jobs data, and looks at risk of falling as investors “remain confident” that the Fed might cut interest rates in March, UniCredit Research said. Markets price too many interest-rate cuts for this year, but any adjustment is likely to be stronger for ECB and BOE…
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Premarket Movers: Alaska Airlines, United Airlines, Merck, Southwestern Energy, Tesla and more
Alaska Airlines and United Airlines said they were grounding their MAX 9 jets. Alaska Air fell 6%, and United was down 2.7%. Spirit fell more than 15%. Merck is in advanced talks to acquire Harpoon Therapeutics for about $700 million, Bloomberg reported, citing people familiar with the matter. Merck is discussing paying roughly $23 a…
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Boeing Drags Down Dow Futures
Stock futures indicated a cautious session on Monday after a plunge in Boeing shares and amid uncertainty over Federal Reserve policy. Boeing fell more than 8% premarket after the Federal Aviation Administration ordered the temporary grounding of 171 Boeing 737 MAX 9 planes after a MAX 9 operated by Alaska Airlines lost a section of…
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US Futures Mixed, European Stocks Mostly Down
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average declined 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 0.2% in morning trading. Temenos rose 4.4% and Elia Group added 4.3%. On the other hand, alstria office…