ADVFN US – Market Content Editor
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Dow, S&P 500 Reach Record Closing Highs As Tech Stocks Extend Rally
Stocks moved sharply higher over the course of the trading session on Friday, adding to the strong gains posted during Thursday’s session. With the continued upward move, the Dow and the S&P 500 set new record closing highs, while the tech-heavy Nasdaq reached its best closing level in two years. The major averages all close…
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Crypto: BTC Dips Below $41,000, UMA Token Surges 112%, and More
Widespread fall in the cryptocurrency market: Bitcoin drops to the level of US$40,000 The cryptocurrency market faced a sharp drop, with bitcoin (COIN:BTCUSD) falling below US$41,000. At the time of writing, Bitcoin was trading down 1.6% at $40,608. Ether (COIN:ETHUSD) also followed the downward trend, declining by 1.3% to US$2,434. This devaluation affected the entire…
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Home Sales, Consumer Sentiment Reports Due
The National Association of Realtors is scheduled to release its report on existing home sales in the month of December at 10 am ET. Existing home sales are expected to come in unchanged in December after climbing by 0.8 percent to an annual rate of 3.82 million in November. Also at 10 am ET, the…
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Optimism About Tech Earnings May Lead To Continued Advance On Wall Street
The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to extend the notable upward move seen over the course of the previous session. Technology stocks may see continued strength after helping lead the advance on Thursday, when the tech-heavy Nasdaq surged by 1.4 percent. Optimism about the…
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Gold And Base Metals Higher
Base metals were higher as the dollar eased back and gold made gains on heightened geopolitical risks. “But waning market expectations of early rate cuts by the Fed and a rebound in the USD are likely to limit the upside,” ANZ Research said.
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Crude Futures Up
Crude futures inched higher as extreme cold disrupts U.S. oil production and Middle East tensions grow following more U.S. strikes against Houthi anti-ship missiles. “Sustained disruptions to Red Sea flows will increase the pressure on energy markets over time,” BMI Research said. Yet, “energy-price action has been fairly muted in response to the crisis.” According…
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Dollar Likely To Stay Stuck In Tight Range
The dollar is likely to stay stuck in a tight range for now as market participants await key interest-rate announcements by central banks over the next two weeks. Investors are likely to wait for these key events “before riding more sustained trends,” UniCredit Research However, it expects the dollar will continue to retain a “bullish…
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Tech Likely to Lead Stocks Higher Again
Stock futures were pointing higher on Friday, with the S&P 500 eyeing fresh highs. Tech stocks are expected to lend a hand, with enthusiasm for the sector set to continue. “Reflation trade is not happening, long technology is the most crowded trade of the moment,” Swissquote Bank said. “The Nasdaq-100 net long positions are at…
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Wall Street Highlights: Macy’s Announces Job Cuts, iRobot Shares Plummet Due to Planned Acquisition Block, and More
In the pre-market on Friday, U.S. index futures are rising, extending the increase seen the day before, when the government avoided a shutdown with funding through March. Today, investors await earnings from major financial institutions, as well as data on sales of existing homes and consumer sentiment. At 05:43 AM, the Dow Jones futures (DOWI:DJI)…
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Top Company News of the Day: BASF, Amazon, TSMC, Cummins
BASF Results Miss Forecasts BASF reported preliminary figures for 2023 that were below the company’s guidance and consensus expectations, hit by write-downs and sales of lower-margin products. EU Commission Intends to Block Amazon’s iRobot Acquisition The European Union’s competition watchdog is weighing the tech giant’s $1.7 billion bid to purchase Roomba maker iRobot. One of…