ADVFN US – Market Content Editor
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Manufacturing Activity and Job Openings Reports Due
The Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of December at 10 am ET. The ISM’s manufacturing PMI is expected to inch up to 47.1 in December from 46.7 in November, but a reading below 50 would still indicate a contraction. Also at 10 am ET,…
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Futures Pointing To Mixed Open On Wall Street
The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside after starting the new year on a downbeat note. Concerns investors have become too optimistic about the likelihood of near-term interest rate cuts may weigh on the markets ahead of the release of the…
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Gold Higher, Base Metals Mixed
Base metals were mixed while gold edged higher as traders waited for Friday’s nonfarm payroll report to gauge which way Fed policy will move this year. “Investors are questioning if the Fed will cut interest rates six times in 2024 if the economy is heading for a soft landing, i.e., maybe five cuts is more…
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Oil Up Over Global Supply Concerns
Oil prices rose around 1% on mounting concerns over global supply as tensions in the Middle East continued to grow. Explosions at a ceremony in Iran to commemorate the death of military commander Qassem Soleimani added to tensions in the region amid shipping disruptions in the Red Sea and the killing of a senior Hamas…
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Euro Firmer, Dollar Down
The euro was firmer as the dollar turned lower, but difficult economic conditions in the eurozone might constrain its progress, CPT Markets said. The European Central Bank could face mounting pressure to reduce interest rates if economic indicators continue to deteriorate, weakening the euro, CPT said. Money markets price in 160 basis points of ECB…
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S&P 500 Futures Nudge Higher After Weak Start to the Year
Stock futures nudged higher on Thursday, as Wall Street looked to stabilize after a poor start to the year. Equity bulls will be hoping that data continues to show economic activity slowing to the extent that it helps the Federal Reserve achieve its 2% inflation target, but not by so much that it indicates a…
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Meta CEO Sells $428 Million in Shares Since November, AMC Hits New Record Low, and More
U.S. index futures are showing a slight uptick in pre-market trading this Thursday, following four consecutive days of decline in the Nasdaq Composite. At 04:02 AM, Dow Jones futures (DOWI:DJI) rose 42 points, or 0.11%. S&P 500 futures rose 0.08%, and Nasdaq-100 futures rose 0.09%. The yield on 10-year Treasury bonds stood at 3.931%. In…
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US Futures, European Stocks Rise
U.S. futures for the S&P 500 were up 0.2% and futures for the Dow Jones Industrial Average rose 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.4% in morning trading. Next added 5.2% and Rational added 3.5%. On the other hand, Evotec sunk…
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Top Company News of the Day: BAE, Next, SpaceX, Intel
BAE to Restart Howitzer Production to Meet Rising Demand The British defense company said it will resume making M777 Howitzer parts for the U.S. Army after the big gun’s success in Ukraine. Next Hikes Profit Forecasts Again Next raised its pretax profit guidance for fiscal 2024 after sales in the pre-Christmas business period were better…
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U.S. Stocks See Further Downside As Fed Minutes Highlight Uncertainty
After kicking off the new year on a downbeat note, stocks saw further downside over the course of the trading session on Wednesday. The major averages all fell on the day, with the tech-heavy Nasdaq closing lower for the fourth consecutive session. The major averages dropped to new lows for the session going into the…