ADVFN US – Market Content Editor
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Tech Sector Slump Weighs On Wall Street After Apple Downgrade
Stocks moved mostly lower during trading on Tuesday, extending the pullback seen in the final trading session of 2023. The Nasdaq showed a particularly steep drop, reflecting notable weakness among tech stocks. The Nasdaq plunged 245.41 points or 1.6 percent to 14,765.94, continuing to give back ground after ending last Wednesday’s trading at its best…
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Investment Insights: Expert Analyst Opinions on Apple, Chewy, Estee Lauder, Lululemon, Wells Fargo…
Alliant Energy: Barclays downgrades to equalweight from overweight with a price target raised from $50 to $53. Apple: Barclays downgrades to underweight from equalweight with a price target reduced from $161 to $160. Avalonbay Communities: Wolfe Research downgrades to peerperform from outperform. Capital One Financial: Barclays maintains its equalweight recommendation and raises the target price…
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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…