Growing Confidence In Banking Stabilization May Lead To Strength On Wall Street

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Thursday, 30 March 2023 09:02:53 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( [Try AI Investing, Get 10 Free Shares]( Have you tried Magnifi Personal yet? With the world's first AI investing assistant, it's like having a co-pilot for your investing. You can get 24/7 personalized guidance, on-demand analysis, plus a commission-free investment marketplace. [Get started]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks poised to extend the strong upward move seen in the previous session. The markets may benefit from the continued easing of concerns about turmoil in the banking sector, with a lack of major negative developments leading to confidence the situation has stabilized. Buying interest may be somewhat subdued, however, as traders look ahead to tomorrow?s report on personal income and spending. The report includes a reading on inflation said to be preferred by the Federal Reserve and could have an impact on the outlook for interest rates. With the Fed signaling last week that it expects just one more interest rate increase this year, traders will look to the data for clues about the timing of the final rate hike. CME Group's FedWatch Tool currently indicates a 49.8 percent chance the Fed will leave rates unchanged at its next meeting in early May and a 50.2 percent chance of a 25 basis point increase. Stocks showed a strong move to the upside during trading on Wednesday, more than offsetting the weakness seen in Tuesday?s session. The major averages all moved higher on the day, with the Nasdaq leading the advance. The major averages reached new highs for the session going into the close of trading. The Nasdaq surged 210.16 points or 1.8 percent to 11,926.24, the S&P 500 shot up 56.54 points or 1.4 percent to 4,027.81 and the Dow jumped 323.35 points or 1.0 percent to 32,717.60. The rally on Wall Street partly reflected a rebound by technology stocks, with the tech-heavy Nasdaq recovering from the pulled back seen early in the week to reach its best closing level in well over a month. Semiconductor stocks helped lead the recovery in the tech sector, driving the Philadelphia Semiconductor Index up by 3.3 percent. The index closed lower in the three previous sessions after reaching its best closing level in almost a year last Thursday. Micron (MU) posted a standout gain after the chipmaker reported weaker than expected fiscal second quarter results but executives predicted a strong 2025 due to a boost from artificial intelligence. Considerable strength was also visible among computer hardware stocks, as reflected by the 2.9 percent surge by the NYSE Arca Computer Hardware Index. Outside the tech sector, commercial real estate stocks saw significant strength on the day, resulting in a 2.2 percent jump by the Dow Jones U.S. Real Estate Index. Airline, banking and tobacco stocks also showed notable moves to the upside, moving higher along with most of the other major sectors. The markets also benefited from a continued easing of concerns about contagion from the recent turmoil in the banking sector. U.S.-listed shares of UBS Group (UBS) moved sharply higher after the Swiss lender announced Sergio Ermotti will return as CEO to steer its massive takeover of Credit Suisse (CS). In the U.S. economic news, the National Association of Realtors released a report showing pending home sales in the U.S. unexpectedly increased for the third straight month in February. NAR said its pending home sales index climbed by 0.8 percent to 83.2 in February after spiking by 8.1 percent to 82.5 in January. Economists had expected pending home sales to slump by 3.0 percent. The pending home sales index reached its highest level since hitting 88.3 last August but was still down by 21.1 percent compared to a year ago. 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. --------------------------------------------------------------- Read the latest breaking news stories about the hottest companies. [Click here to Find Out More.]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Labor Department released a report on Thursday showing a modest increase in first-time claims for U.S. unemployment benefits in the week ended March 25th. The report said initial jobless claims rose to 198,000, an increase of 7,000 from the previous week?s unrevised level of 191,000. Economists had expected jobless claims to inch up to 196,000. The Labor Department said the less volatile four-week moving average also crept up to 198,250, an increase of 2,000 from the previous week?s unrevised average of 196,250. A separate report released by the Commerce Department showed the U.S. economy grew by slightly less than previously estimated in the fourth quarter of 2022. The report said real gross domestic product shot up by 2.6 percent in the fourth quarter compared to the previously reported 2.7 percent jump. Economists had expected the pace of growth to be unrevised. The Commerce Department said the slower than previously estimated growth reflected downward revisions to exports and consumer spending. Meanwhile, upward revisions to non-residential fixed investment, residential fixed investment, and state and local government spending helped limit the downside. At 12:45 pm ET, Boston Federal Reserve President Susan Collins is due to speak on the economy and participate in a fireside chat before the National Association for Business Economics 39th Annual Economic Policy Conference. Richmond Federal Reserve President Thomas Barkin is also scheduled to speak in person before the Virginia Council of CEOs Quarterly Meeting at 12:45 pm ET. --------------------------------------------------------------- [3 Tiny Stocks Primed to Explode]( The world's greatest investor ? Warren Buffett ? has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential. We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns. [Click here for full details and to join for free.]( --------------------------------------------------------------- Stocks in Focus Shares of Fluence Energy (FLNC) are seeing significant pre-market strength after Goldman Sachs upgraded its rating on the energy stoage company?s stock to Buy from Neutral. Retail giant Walmart (WMT) may also move to the upside after Evercore ISI upgraded its rating on the company?s stock to Outperform from In-Line. Meanwhile, shares of RH (RH) are moving sharply lower in pre-market trading after the high-end furniture chain reported fiscal fourth quarter earnings that missed analyst estimates and provided disappointing guidance. --------------------------------------------------------------- [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.]( --------------------------------------------------------------- Europe European stocks have rallied to hit a two-week high on Thursday after Swedish retail giant H&M reported a surprise first-quarter profit and data showed Spanish inflation cooled to a twenty-month low in March on lower energy prices. Investors shrugged off separate data showing that a measure of Eurozone economic sentiment unexpectedly fell in March. While the French CAC 40 Index has jumped by 1.2 percent, the German DAX Index is up by 1.0 percent and the U.K.?s FTSE 100 Index is up by 0.8 percent. Retail giant H&M has moved sharply higher after reporting a surprise operating profit for the December-February period. Danish wind turbine maker Vestas has also shown a strong move to the upside after winning an order in Brazil. Petrofac shares have also soared. The energy services firm and technology group Hitachi Energy have sealed a ?13 billion ($14.1 billion) framework deal with Dutch-German transmission system operator TenneT to supply offshore platforms and onshore converter stations. Online greeting cards and gift retailer Moonpig has also surged after backing its full-year guidance. --------------------------------------------------------------- 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 mostly higher on Thursday despite uncertainty about the global growth outlook and rising tensions between China and the United States. Chinese and Hong Kong stocks fluctuated before closing higher ahead of an expected meeting between Taiwan's President Tsai Ing-wen and U.S. House Speaker Kevin McCarthy during the former's transit to central America. China warned of countermeasures, saying the planned visit "undermines peace across Taiwan Strait." Investors also awaited Chinese manufacturing and service sector activity data for March, with analysts expecting some slowdown due to continued weakness in foreign demand. China's Shanghai Composite Index closed 0.7 percent higher at 3,261.25 on late session buying, while Hong Kong's Hang Seng Index closed 0.6 percent higher at 20,309.13. Japanese shares ended modestly lower after three consecutive sessions of gains. The Nikkei 225 Index slipped 0.4 percent to 27,782.93 as many stocks traded ex-dividend. The broader Topix settled 0.6 percent lower at 1,983.32. Heavyweight SoftBank Group fell more than 2 percent after climbing over 6 percent in the previous session on Alibaba's business restructuring news. Seoul stocks ended higher for a third day as market jitters about the global banking sector continued to ease. The Kospi rose 0.4 percent to 2,453.16, led by chip stocks. Samsung Electronics gained 0.8 percent and SK Hynix added 2.2 percent after Micron Technology, the largest U.S. maker of memory chips, issued a better-than-expected outlook for the fiscal third quarter. Australian markets rose for a fourth straight session to hit a more than two-week high on expectations for a status quo on rates when the Reserve Bank meets next week on April 4. The benchmark S&P/ASX 200 Index climbed 1.0 percent to 7,122.30, while the broader All Ordinaries Index ended 1.1 percent higher at 7,312.40. Buying was seen across the board, with mining, banking and technology stocks leading the surge. Zip Co. jumped 3.7 percent after the buy now, pay later company announced it would divest its businesses in Central and Eastern Europe and South Africa. --------------------------------------------------------------- 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 climbing $0.69 to $73.66 a barrel after slipping $0.23 to $72.97 a barrel on Wednesday. Meanwhile, after falling $5.90 to $1,984.50 an ounce in the previous session, gold futures are rising $4.60 to $1,989.10 an ounce. On the currency front, the U.S. dollar is trading at 132.78 yen versus the 132.86 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0903 compared to yesterday?s $1.0844. --------------------------------------------------------------- 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