{"id":44056,"date":"2023-11-17T11:39:19","date_gmt":"2023-11-17T11:39:19","guid":{"rendered":"https:\/\/histarmar.net\/?p=44056"},"modified":"2023-11-17T11:39:19","modified_gmt":"2023-11-17T11:39:19","slug":"u-s-stocks-may-move-back-to-the-upside-in-early-trading-2","status":"publish","type":"post","link":"https:\/\/histarmar.net\/business\/u-s-stocks-may-move-back-to-the-upside-in-early-trading-2\/","title":{"rendered":"U.S. Stocks May Move Back To The Upside In Early Trading"},"content":{"rendered":"

After coming under pressure in the latter half of the previous session, stocks may move back to the upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets<\/span>, with the S&P 500 futures up by 0.3 percent.<\/p>\n

A pullback by treasury yields may contribute to initial strength on Wall Street, as a jump in yields contributed to Thursday’s pullback.<\/p>\n

Yields surged in afternoon trading on Thursday following a disappointing thirty-year bond auction and remarks by Federal Reserve Chair Jerome Powell that renewed concerns about the outlook for interest rates.<\/p>\n

Powell said the Fed is not yet confident rates are at a sufficiently restrictive level to bring inflation down to 2 percent and warned the central bank would not hesitate to resume raising rates.<\/p>\n

Despite Powell’s comments, CME Group’s FedWatch Tool currently still suggests the Fed is likely to leave interest rates over the next several months before cutting rates in mid-2024.<\/p>\n

Shortly after the start of trading, the University of Michigan is due to release its preliminary reading on consumer sentiment in the month of November. The consumer sentiment index is expected to edge down to 63.7 in November after falling to 63.8 in October.<\/p>\n

The report includes readings on consumers’ inflation expectations that could impact the outlook for interest rates.<\/p>\n

Stocks showed a lack of direction for much of morning trading on Thursday but came under considerable pressure in the afternoon. The major averages all showed notable moves to the downside, with the Nasdaq and the S&P 500 snapping their longest winning streaks in two years.<\/p>\n

The major averages climbed off their worst levels going into the close but remained firmly negative. The Nasdaq slumped 128.97 points or 0.9 percent to 13,521.45, the S&P 500 slid 35.43 points or 0.8 percent to 4,347.35 and the Dow fell 220.33 points or 0.7 percent to 33,891.94.<\/p>\n

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Friday. Japan’s Nikkei 225 Index dipped by 0.2 percent, while Hong Kong’s Hang Seng Index tumbled by 1.8 percent.<\/p>\n

The major European markets have also moved to the downside on the day. While the U.K.’s FTSE 100 Index has slumped by 1.3 percent, the French CAC 40 Index is down by 1.0 percent and the German DAX Index is down by 0.7 percent.<\/p>\n

In commodities trading, crude oil futures are advancing $0.81 to $76.55 a barrel after rising $0.41 to $75.74 a barrel on Thursday. Meanwhile, after climbing $12 to $1,969.80 an ounce in the previous session, gold futures are sliding $20 to $1,949.80 an ounce.<\/p>\n

On the currency front, the U.S. dollar is trading at 151.43 yen versus the 151.35 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.0679 compared to yesterday’s $1.0668. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

After coming under pressure in the latter half of the previous session, stocks may move back to the upside in early trading on Friday. The major index futures are currently<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\nU.S. Stocks May Move Back To The Upside In Early Trading - histarmar<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/histarmar.net\/business\/u-s-stocks-may-move-back-to-the-upside-in-early-trading-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Stocks May Move Back To The Upside In Early Trading - histarmar\" \/>\n<meta property=\"og:description\" content=\"After coming under pressure in the latter half of the previous session, stocks may move back to the upside in early trading on Friday. 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