Upward Momentum May Lead To Initial Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Thursday, 30 December 2021 11:06:14 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [How Pro Traders Actually Pick Their Stocks]( When a stock skyrockets, we?re eager to see if it will continue to push higher or reverse course. And there is one way to know what?s coming next, but it isn?t what you think. It?s the only guaranteed way to get answers. [Check out this must-see tool for predictive analysis.]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a modestly higher open on Thursday, with stocks likely to move to the upside after closing mixed for two straight days. The markets may benefit from recent upward momentum, which has helped lift the Dow and the S&P 500 new record highs amid easing concerns about the Omicron variant of the coronavirus. So-called ?window dressing? may also contribute to some strength on Wall Street, as institutional investors look to boost the value of their portfolios going into the end of the year. Trading activity may remain somewhat subdued, however, as some traders may look to get a head start on New Year?s festivities. After ending Tuesday?s trading on opposite sides of the unchanged line, the major U.S. stock indexes turned in another mixed performance during trading on Wednesday. Despite the choppy trading, the Dow and the S&P 500 reached new record closing highs. The Dow rose 90.42 points or 0.3 percent to 36,488.63, closing high for the sixth consecutive session. The S&P 500 also inched up 6.71 points or 0.1 percent to 4,793.06, while the Nasdaq climbed well off its worst levels but still closed down 15.51 points or 0.1 percent at 15,766.22. Traders seemed reluctant to continue making significant moves following recent strength in the markets, which has helped stocks recover from the sell-off seen in reaction to initial reports about the Omicron variant of the coronavirus. While the Omicron variant has contributed to a surge in new coronavirus cases around the world, traders seem optimistic that the milder symptoms associated with the new strain will not lead to a significant economic slowdown. On the U.S. economic front, a report released by the National Association of Realtors showed an unexpected pullback in pending home sales in the month of November. NAR said its pending home sales index slid 2.2 percent to 122.4 in November after spiking 7.5 percent to 125.2 in October. The decrease surprised economists, who had expected pending home sales to rise by 0.5 percent. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets. Airline stocks showed a substantial move to the downside, however, with the NYSE Arca Airline Index plunging by 2.5 percent. Significant weakness was also visible among oil service stocks, as reflected by the 1.4 percent drop by the Philadelphia Oil Service Index. The weakness in the sector came despite an increase by the price of crude oil. On the other hand, housing stocks moved notably higher despite the disappointing pending home sales data, driving the Philadelphia Housing Sector Index up by 1.2 percent. --------------------------------------------------------------- [MUST SEE 'Set and Forget' Dividend Portfolio]( The easiest way to self-manage your dividend income portfolio without losing a ton of money is following my advice below. Dividend stocks I personally recommend and buy myself are meant to held for a long time. 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At 9:45 am ET, MNI Indicators is scheduled to release its report on Chicago-area business activity in the month of December. The Chicago business barometer is expected to inch up to 62.0 in December from 61.8 in November, with a reading above 50 indicating growth. --------------------------------------------------------------- Stocks in Focus Shares of Biogen (BIIB) are likely to give back ground after spiking in the previous session as Samsung Biologics has denied a Korean media report it is in talks to buy the biotechnology for around $42 billion. Chinese ride-hailing firm DiDi Global (DIDI) may extend a recent downward trend after reporting a $4.7 billion third quarter loss on a 1.7 percent decline in revenue amid a regulatory crackdown. Meanwhile, shares of R.R. Donnelley (RRD) are likely to see initial strength after the integrated communications company said it received an unsolicited, non-binding offer to acquire the company for $11 per share in cash. R.R. Donnelley recently agreed to be acquired by affiliates of Chatham Asset Management for $10.85 per share in cash. --------------------------------------------------------------- --------------------------------------------------------------- Europe European stocks are seeing modest strength during trading on Thursday, although a cautious undertone has prevailed ahead of year-end holidays. Regional markets such as Italy, Germany, and Spain will be closed on Friday, while those including Paris and London will trade for half a session, ahead of the New Year. The number of Covid-19 cases continued to surge around the world, but health experts said there is no need to panic, as most of the cases detected so far are asymptomatic. Investors are pinning hopes that new coronavirus-related curbs and restrictions may not be needed into 2022. Meanwhile, U.S. President Joe Biden is planning to speak to Russian counterpart Vladimir Putin by phone today, in a bid to de-escalate tensions over Ukraine. While the U.K.?s FTSE 100 Index is just above the unchanged line, the German DAX Index is up by 0.2 percent and the French CAC 40 Index is up by 0.3 percent. Siemens Healthineers has moved slightly higher after its at-home Covid-19 test received approval for emergency use from the U.S. drug regulator. Creightons has soared. The consumer goods company kept its interim payout unchanged despite reporting a decrease in profit and revenue. --------------------------------------------------------------- Do you have a full view of the market? Level 2 lets you see all of the orders to buy and sell shares, allowing you to see what is really going on in the market. If you don?t have this in your trading toolkit, you?re at a serious disadvantage. [Learn More / Upgrade]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks ended Thursday?s session on a mixed note despite U.S. shares edging up to news record highs overnight amid light volumes in the final days of the year. Chinese shares advanced after the government pledged to focus on a consumption recovery and reduce certain income tax rates. The benchmark Shanghai Composite Index rose 22.19 points, or 0.6 percent, to 3,619.19 as authorities continued efforts to curb the Covid-19 outbreak in the western city of Xi'an. Hong Kong's Hang Seng Index ended nearly flat, with China Evergrande Group shares falling more than 9 percent after some holders of two China Evergrande Group dollar bonds with coupons due on Tuesday said they had yet to receive payment. Japanese shares ended lower after the country logged over 500 daily Covid-19 cases on Wednesday, exceeding the 500 mark for the first time in over two months. The Nikkei 225 Index dropped 115.17 points, or 0.4 percent, to 28,791.71 but recorded its highest year-end closing level since the bubble era of the 1980s. Similarly, the broader Topix closed 0.3 percent lower at 1,992.33 but marked the best year-end close since 1989. Nintendo and Kikkoman both fell over 2 percent, while heavyweight SoftBank Group advanced 1.5 percent and Z Holdings, formerly known as Yahoo Japan, added 3.3 percent. Australian markets rose for a sixth straight session to close at their highest level in more than three and a half months, with financials and miners leading the surge. The benchmark S&P/ASX 200 Index finished marginally higher at 7,513.40, its highest close since September 7. The broader All Ordinaries Index inched up 3.40 points to close at 7,843.70. Fund manager Magellan Financial Group surged 3.7 percent, while mining heavyweights BHP and Rio Tinto both rose about 1 percent as iron ore futures rebounded after three days of losses. Seoul stocks ended lower as investors took to the sidelines in the final trading session of the year. The Kospi dropped 15.64 points, or 0.5 percent, to 2,977.65 despite positive industrial output data signaling an easing in global supply bottlenecks. --------------------------------------------------------------- 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]( --------------------------------------------------------------- Commodities Crude oil futures are edging down $0.15 to $76.41 a barrel after climbing $0.58 to $76.56 a barrel on Wednesday. Meanwhile, after slipping $5.10 to $1,805.80 an ounce in the previous session, gold futures are falling $5.60 to $1,800.20 an ounce. On the currency front, the U.S. dollar is trading at 115.15 yen versus the 114.95 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.1327 compared to yesterday?s $1.1349. --------------------------------------------------------------- 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