What is it? It checks the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
When? April 6th at 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
When? April 6th at 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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What is it? FOMC Member Dudley is due to speak about the economic outlook at the New Jersey Performing Arts Center. Audience questions expected.
Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.
When? April 6th at 8:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.
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During today’s early trading session, Asian stocks traded traded higher following data from Japan’s Central Bank showing that it bought 35.2 billion Yen in exchange traded funds. This report boosted hopes for future bonds and stocks buying, pushing investors towards the stock market.
During the European session the GBP dropped against the Dollar following negative data. The Euro is currently rallying against the Dollar and is up by 1% as traders looked back on comments made by ECB policy makers in their March meeting. Despite officials agreeing not to reduce quantitative easing measures, they pointed out that the economy is improving. Traders are now speculating less bond buying in the near future.
Traders are now awaiting the release of the Nonfarm Payrolls on Friday, analysts expect the number of people employed during the previous month would have risen by 240,000. The market tends to react with high volatility in accordance to the actual figure released. Higher than expected could push the Dollar up in the short term.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Three days of declines?
U.S. stock futures are dipping, indicating Wall Street could see a third consecutive day of declines before the Easter long weekend.
Traders will be trying to position themselves for the release of the monthly U.S. jobs report Friday, when most major stock markets will be closed. Currency markets will definitely be moving.
The U.S. Bureau of Labor Statistics is expected to report the economy created 244,000 jobs in March, according to a CNNMoney survey of economists.
2. International markets overview
European markets are relatively stable in early trading. No single index is making any standout moves.
Investors are watching the political back-and-forth moves on Greece. The heavily indebted nation is trying to convince international lenders to release further bailout money so that it can pay for day-to-day expenses and upcoming debt repayments.
Most Asian markets ended the day with healthy gains.
3. Potential stock market movers -- McDonald's, Kraft
McDonald's (MCD) stock may be in play after announcing late Wednesday that it would raise hourly wages for 90,000 employees who work at company-owned stories.
Kraft (KRFT) and Mondelez International (MDLZ) will be in the spotlight Thursday after the U.S. Commodity Futures Trading Commission announced it had filed a civil complaint against the food giants for manipulating wheat prices.
4. Earnings and economics
Avocado producer Calavo Growers (CVGW) and retailer Perry Ellis (PERY) are both reporting ahead of the open.
Also before the opening bell, the U.S Labor Department will release its report on weekly jobless claims at 8:30 a.m. ET.
The government's report on February's trade balance will also come out at that time.
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During today’s early trading session, Asian stocks continued to trade lower as Japanese shareholders took profits towards the end of the first quarter. Following the release of mixed Japanese data the Dollar dropped against the Yen and bounced off a key support level of 119.4.
The price of Gold rallied and is now testing resistance $1,197/ounce as market spectators react to positive data out of China. The Manufacturing PMI and HSBC Manufacturing both showed slightly better readings than expected, furthermore, negative U.S. data released today continued to support the precious metal. The ADP Nonfarm Employment Change was significantly lower than the expected 225,000 with a reading of 189,000. Negative data in the U.S. labor market could delay an interest rate hike in the states.
Traders are now awaiting the release of the Nonfarm Payrolls on Friday, analysts expect the number of people employed during the previous month would have risen by 240,000. The market tends to react with high volatility in accordance to the actual figure released. Higher than expected could push the Dollar up in the short term.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Go go go
Shares in GoDaddy will begin trading this morning on the New York Stock Exchange under the ticker symbol 'GDDY'. The company priced shares at $20 each -- slightly higher than originally expected -- raising $460 million for the firm.
This values the company at around $3 billion, even though it hasn't made a profit since 2009.
2. Stocks sulk
U.S. stock futures are in the red following a sharp drop Tuesday. But the move lower this morning is fairly muted.
Over the course of the previous trading session, the Dow Jones industrial average lost 200 points, the S&P 500 slid 0.9% and the Nasdaq closed with a 0.9% loss.
In Europe, stock markets are all rising in early trading, recovering from Tuesday's fall.
3. Earnings and economics
Watch trading in Monsanto (MON) this morning. The company is reporting quarterly results ahead of the open.
On the economic front, ADP is releasing its March employment report at 8:15 a.m. ET.
And throughout the day, automakers will report their car and truck sales data for the past month.
4. Oil traders awaiting Iranian deal
World leaders gave themselves a one-day extension to negotiate a deal with Iran on its nuclear program. They're currently working on the framework for a deal, which would be followed by agreeing details later this year.
Oil traders are keenly watching the talks because a final agreement could ultimately lead to a lifting of sanctions on Iran and allow the Middle Eastern nation to pump more oil to world markets.
Crude oil futures were dipping by about 1% to trade around $47 per barrel.
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What is it? It checks the estimated change in the number of employed people during the previous month, excluding the farming industry and government.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? April 1st at 8:15am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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During today’s early trading session, Asian stocks traded lower as Japanese shareholders took profits on the last day of the first quarter. The Nikkei share average was down 1.05%, closing at 19,206 points. Following the release of negative data out of New Zealand, the NZD/USD dropped early this morning to its lowest level since March 20th, Building Consents for the month of February dropped significantly by 6.3%, analysts had expected a rise of 2%. This negative data added to concerns that the Reserve Bank of New Zealand is to lower interest rates mid-2015, which could continue to weigh on the NZD over the long term.
During the European session the Euro dropped to 1.071 despite positive data from Germany showing that the country’s unemployment rate dropped to a record low. The Euro declined following the failed agreement between Greece and its creditors, the nation will run out of cash unless an agreement is reached over an extended bailout plan by the end of this month. Tomorrow, Germany is to release the Manufacturing PMI for the month of March, if the actual figure is lower than the expected figure of 52.4 this could cause the Euro to drop further in the short term.
During early U.S. trade, American stocks continue to rally as investors digest Janet Yellen’s comments on rising interest rates, she stated on Friday that a hike in rates is expected later this year but will do so gradually if there is continued improvement in the economy. Nasdaq Composite is up 1.15%, S&P 500 is up 1.22% and Dow Jones rallied 1.49%. Currency traders are now awaiting the U.S. CB Consumer Confidence taking place at 15:00 GMT. A negative reading could push down the Dollar in the short term.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Oil in the spotlight
Traders are focusing on the oil market Tuesday in anticipation of major developments involving Iran and Nigeria.
Crude futures are moving down by about 2% to trade around $47.50 per barrel.
Iran is negotiating with world powers about its nuclear capabilities, and talks are coming down to the wire. Tuesday at 6 p.m. ET marks the "self-imposed" deadline for all sides to agree on a general framework for a deal. Then the U.S., Iran and others will have until the end of June to hammer out the specifics. This could ultimately lead to a lifting of sanctions and allow Iran to pump more oil to world markets.
Nigeria, one of Africa's biggest oil producers, is tallying up the results of its election. Final results are expected today.
Opposition challenger Muhammadu Buhari is currently leading with 12 million votes, surpassing President Goodluck Jonathan, who has garnered 10 million votes so far, according to Reuters. However, these figures are not final as vote counting continues.
2. Stock market overview
U.S. stock futures are looking a bit soft Tuesday after markets posted a strong rally on Monday.
If the main indexes fail to climb again today, they'll all close out the month with losses.
As it stands now, both the Dow Jones industrial average and S&P 500 have declined by nearly 1% since the start of March, following a surge in February. The Nasdaq is also in the red for the month, but is only off by 0.3%.
3. International market overview
European markets are mostly edging higher in early trading.
All the main Asian markets closed the day with gains, except for the Nikkei in Japan, which pulled back by 1.1%.
4. Economics
There are a few interesting economic stats coming out Tuesday.
The S&P/Case Shiller 20-city home price index will be published at 9 a.m. This index provides a broad overview about the state of America's housing market.
The U.S. Conference Board will update its monthly consumer confidence index at 10 a.m.
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
When? March 31st at 9:00pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? It checks the change in the number of new building approvals issued.
It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder.
When? March 31st at 8:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.
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What is it? It checks the level of a composite index based on surveyed households.
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? March 31st at 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? It checks the change in the inflation-adjusted value of all goods and services produced by the economy.
It's the broadest measure of economic activity and the primary gauge of the economy's health.
When? March 31st at 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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What is it? It checks the change in the total value of employment income collected by workers.
Income is correlated with spending - the more disposable income consumers have, the more likely they are to increase spending.
When? March 30th at 9:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the JPY to rise.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Yellen toes the line
Market watchers say the buoyancy in global markets was inspired by a speech made late Friday by the head of the Federal Reserve, Janet Yellen.
Yellen said the U.S. central bank would be slow and steady with its upcoming interest rate hikes.
"The basic take away is that the [Fed's] policy normalization process will be only a minor transformation from 'Zero Interest Rate Policy' to 'Low Interest Rate Policy'," explained Mike O'Rourke, chief market strategist at JonesTrading. "In her own words, Yellen described it as a 'gradualist approach'."
U.S. stocks closed the week with small gains, following four consecutive days of losses.
2. Focus on oil
Oil is in the spotlight this week with major producing nations hitting the headlines. Crude futures were trading about 1.5% lower Monday.
Iran is negotiating with world powers about its nuclear capabilities. If a general framework for a deal is reached by Tuesday, then the U.S., Iran and others will have until the end of June to hammer out more specifics. That could lead to a lifting of sanctions and allow Iran to pump more oil to world markets.
Saudi Arabia continues to be in focus on expectations that it will launch a ground incursion in Yemen. Last week, Saudi Arabia and a number of other nations launched air strikes over Yemen.
And one of Africa's biggest producers, Nigeria, is tallying up the results of its election at the weekend.
3. Greek drama continues
Greece is waiting for its international partners to approve a list of proposed economic reforms that it submitted Friday.
Greece needs the green light before it can get any more money from lenders. The new left-wing government of the heavily indebted nation could run out of money in a matter of weeks if creditors don't agree to release more bailout funds.
4. Economics
The U.S. government will release February data on personal income and spending numbers at 8:30 a.m. ET.
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