12:10pm: AMC’s June surge continues
The Dow was up 69 points, 0.2%, to 34,644 at midday despite an early morning flicker below the flatline. The Nasdaq improved 30 points, 0.2%, to 13,766, and the S&P 500 ticked up 12 points, 0.3%, to 4,214.
10:45am: Proactive North America headlines:
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) says first wholesale crop at Delta greenhouse on track for processing and sale at the end of summer
Sigma Lithium Resources‘ PEA shows Phase 2 expansion at Brazil project could double its value to US$844 million
Recruiter.com Inc (OTCQB:RCRT) CEO Evan Sohn to talk predictive Recruiter Index survey on CNBC’s ‘The Exchange,’ and Yahoo FInance Live
Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) (FRA:G3U) promotes Sandra Daycock to CFO and Fernando Cornejo to COO
Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) (FRA:O4T) reveals grab samples of up to 24.3 g/t gold at its Blackfly Gold Project
Byrna Technologies Inc (NASDAQ:BYRN) (CSE:BYRN) files for potential C$50M public offering to build up working capital
Delta 9 Cannabis Inc (TSE:DN) (OTCQX:DLTNF) partner receives five new retail cannabis store licences
Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) appoints financial executive Darren Collins to its board and audit committee
9.41am: Wall Street starts mixed
The main indices on Wall Street started Wednesday’s session on a mixed note as a lack of major news left traders searching for direction.
Shortly after the opening bell, the Dow Jones Industrial Average was down 0.06% at 34,553, while the S&P 500 climbed 0.05% to 4,204 and the Nasdaq rose 0.16% to 13,758.
While the performance of the wider market was mixed in early deals, a collection of memestocks favoured by retail traders on the Reddit forum r/wallstreetbets were surging at the open as investors looged to log another session of strong gains.
7:50am: Wall Street set for mostly flat start
After a fairly uneventful close on Wall Street on Tuesday, things do not look to have changed much, with the opening calls looking far from dramatic.
The Dow Jones Industrial Average is forecast to edge up 22 points or 0.1%, while the S&P 500 and Nasdaq Composite are also expected to be virtually unchanged.
Investors are caught between welcoming the signs of economic recovery shown as the vaccination programmes progress, and worrying about the possible implications of that recovery for inflation and a rise in interest rates.
The latest Federal Reserve Beige Book, due later today, will give some clues as to how businesses and the central bank feel about the current economic situation. Otherwise, there is little in the way of data to swing the market one way or the other.
Four things to watch for on Wednesday:
- Companies in the earnings diary include data monitoring software group Splunk Inc (NASDAQ:SPLK), cloud data specialist NetApp Inc (NASDAQ:NTAP) and car parts retailer Advance Auto Parts Inc (NYSE:AAP)
- Shares in handmade and vintage products retail platform Etsy Inc (NASDAQ:ETSY) will also be in focus after the company announced a deal to buy fashion marketplace Depop for US$1.6bn
- AGMs from a number of major corporates including Google parent Alphabet Inc (NASDAQ:GOOG), Walmart Inc (NYSE:WMT) and Comcast Corp (NASDAQ:CMCSA) may also throw up some insights
- On the macro front, there is little happening however investors may be interested in US mortgage data as well as speeches from several Fed representatives
Story by ProactiveInvestors
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