U.S. stock futures are little changed and international stock markets are mixed.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Heavy metal
1. Heavy metal
Industrial metal prices are continuing to rebound from painfully low levels set in recent months. Prices for nickel and copper are jumping, extending a rally that's been going on for a few weeks.
Those moves are lifting shares in mining firms that trade in London, including Anglo American (AAUKF) and BHP Billiton (BBL).
2. Oil keeps steady
2. Oil keeps steady
Crude oil futures are holding onto recent gains, trading around $34.50 per barrel.
Venezuela said 15 major oil producing nations would meet later this month to agree an output freeze, but gave no further details. Saudi Arabia and Russia recently agreed to cap production levels in an effort to keep oil prices from falling further in an oversupplied market.
Investors around the world freaked out when oil prices plummeted to a 13-year low of $26.05 a barrel on February 11, but oil has since rallied by more than 30%.
3. Forex review
3. Forex review
The dollar gained against the yen on Thursday as investors began to turn their attention to the U.S. jobs report for February (NFP) that some investors hope will underline expectations for further Federal Reserve interest rate hikes this year.
USD/JPY was up 0.47% at 114.00, not far from the two-week highs of 114.54 struck on Wednesday. The low-yielding euro was also higher against the yen, with EUR/JPY rising 0.42% to 123.84. The euro was flat against the dollar, with EUR/USD at 1.0869, close to the previous session’s one-month lows of 1.0824.
The single currency remained on the back foot after European Central Bank board member Benoit Coeure signaled Wednesday that the ECB will ease monetary policy this month. Coeure said it was “vital” to stimulate economic growth and boost inflation after prices in the euro zone fell 0.2% in February.
The dollar received a boost after Wednesday’s ADP nonfarm payrolls report showed that the U.S. private sector added 214,000 new jobs last month, ahead of expectations for an increase of 190,000. The upbeat data fueled hopes that Friday’s report would show similarly strong jobs growth.
4. Wednesday market recap
4. Wednesday market recap
Wednesday was a relatively quiet day. The Dow Jones industrial average inched up 0.2%, the S&P 500 gained 0.4% and the Nasdaq added 0.3%.
