Futures Pointing To Initial Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 13 August 2024 12:14:39 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( US Market The major U.S. index futures are currently pointing to a higher open on Tuesday, with stocks likely to move to the upside after ending yesterday?s choppy trading session little changed. The futures climbed more firmly into positive territory following the release of a Labor Department report showing producer prices crept higher in the month of July. The Labor Department said its producer price index for final demand inched up by 0.1 percent in July after rising by 0.2 percent in June. The uptick by producer prices matched economist estimates. Meanwhile, the report said the annual rate of producer price growth slowed to 2.2 percent in July from an upwardly revised 2.7 percent in June. Economists had expected the annual rate of producer price growth to decelerate to 2.3 percent from the 2.6 percent originally reported for the previous month. The notable slowdown by t... [Read More]( --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports later this week. The Labor Department is scheduled to release reports on producer and consumer price inflation on Tuesday and Wednesday, respectively, with the data likely to impact the outlook for interest rates. The reports are expected to show a slowdown in the annual rate of price growth, which could provide further impetus for the Federal Reserve to lower rates. The Fed is widely expected to cut interest rates next month, with CME Group's FedWatch Tool currently indicating a split regarding the probability of a quarter or half point rate cut. In light of recent concerns about the outlook for the economy, traders are also likely to keep a close eye on reports on retail sales and industrial production. While most of the major sectors ended the day showing only modest moves, airline stocks saw substantial weakness, resulting in a 4.1 percent nosedive by the NYSE Arca Airline Index. JetBlue (JBLU) led the sector lower, with the airline plummeting by 20.7 percent after announcing it intends to offer $400 million worth of convertible senior notes due 2029. Significant weakness was also visible among telecom stocks, as reflected by the 3.5 percent plunge by the NYSE Arca North American Telecom Index. On the other hand, gold stocks moved sharply higher amid an increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 3.7 percent. Commodity, Currency Markets Crude oil futures are slipping $0.22 to $79.84 a barrel after spiking $3.22 to $80.06 a barrel on Monday. Meanwhile, after surging $30.60 to $2,504 an ounce in the previous session, gold futures are rising $5.60 to $2,609.60 an ounce. On the currency front, the U.S. dollar is trading at 147.29 yen compared to the 147.21 yen it fetched at the close of New York ... [Read More]( --------------------------------------------------------------- Europe European stocks have struggled for direction on Tuesday as investors await upcoming U.S. and U.K. inflation data for direction. The British pound strengthened against other major currencies after data showed the U.K. unemployment rate unexpectedly dropped in the second quarter. Data from the Office for National Statistics showed that the unemployment rate fell to 4.2 percent in the three months to June, while the rate was expected to rise marginally to 4.5 percent from 4.4 percent in the preceding period. I... [Read More]( --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Asia Asian stocks moved in a tight range before ending on a muted note Tuesday as investors awaited a slew of key U.S. economic data this week for additional clues on the Fed's rate trajectory. Japanese stocks posted strong gains in catch-up trade after a long holiday weekend. Gold dipped ahead of closely watched U.S. producer and consumer price inflation data due this week. Oil prices traded lower in Asian trading after climbing more than 3 percent in the overnight U.S. trading session amid heightened tensions in the Middle East. Chinese stocks eked out modest gains desp... [Read More]( --------------------------------------------------------------- Commodities Crude oil futures are slipping $0.22 to $79.84 a barrel after spiking $3.22 to $80.06 a barrel on Monday. Meanwhile, a... [Read More]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49