Daily Markets: A Quiet Start to a Big Week for Stocks
From Nasdaq:
Asian-Pacific equity markets had a mix of results with gains in Australia, Taiwan, and Japan, but declines in South Korea, Hong Kong, and China. Indian markets were closed today for a new temple in Ayodhya. Major European markets are up midday, and U.S. futures point to a higher open. U.S. stock saw a record high last week and are set to continue trading this week with over 430 companies releasing quarterly results and economic data expected to impact fed rate cuts.
The People’s Bank of China left lending rates unchanged to support an economic revival. Oil prices are moving lower amid concerns for global growth. The U.S. will release the December Leading Indicators report later today. Tech, communication services, and financials are thriving while consumer staples and utilities are down. Pre-market breadth is healthy, with most names being bid up, except for Archer-Daniels Midland, who issued downside EPS guidance. Boeing shares fell after a regulatory recommendation while Macy’s rejected a $21 per share takeover offer and Sony terminated a $10 billion merger deal with Zee Entertainment. United Airlines and Zions Bancorp are expected to release quarterly reports. Upcoming events include interest rate decisions for Japan and the European Central Bank and include the latest flash consumer confidence for the Eurozone. The quote of the day is “I am not what happened to me. I am what I choose to become.”
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