US futures are easing lower after the Dow Jones & S&P 500 hit record highs on Friday. Earnings will step up a gear this week with Netflix, Johnson & Johnson, IBM & Coca-Cola due. USD slumps to 6 week lows.
US futures
Dow futures -0.2% at 34122
S&P futures -0.3%...
The USD was rather weak on Friday remaining near a month low against a basket of its peers, as the Fed reiterated its view that any spike of inflationary pressures is more likely to be temporary. Also an improved market sentiment, did not allow for the greenback to gain...
Earnings, Covid boost European equities
European stocks edged ahead to fresh record highs in early trade before momentum slowed. Strong corporate earnings, the continued rollout of Covid vaccines and the promise of easy monetary policy for longer has driven demand for equities to all-time highs.
Markets are broadly upbeat about the...
Stocks and copper higher, dollar down
Cryptos attempt recovery after weekend plunge
Euro climbs to $1.20 ahead of ECB
Lots of company earnings
Sentiment at the start of this week remained positive for most risk-sensitive assets. European stocks followed Asian markets and US equities higher. Copper prices rallied while...
The Dax is trading within narrow consolidation under new all-time high on Monday, following 1.5% rally last Friday (the biggest one-day gains since March 8).
Global stocks remain underpinned by expectations that major world central banks will maintain ultra-loose monetary policies for an extended period of time, while encouraging signs...
Markets
Markets last week showed a remarkable disconnect from a series of high-profile (US) data releases. A set of very strong US data, including higher than expected inflation, a strong beat in retail sales, promising confidence indicators and strong housing data weren’t enough to prevent a (technically) significant setback in...
Asian Indices:
Australia's ASX 200 index rose by 14.6 points (0.21%) and currently trades at 7,078.10
Japan's Nikkei 225 index has risen by 59.63 points (0.2%) and currently trades at 29,743.00
Hong Kong's Hang Seng index has risen by 232.17 points (0.8%) and currently trades at 29,201.88
UK and Europe:
...
STOCKS
Dow has risen well above 34000 and has potential to test 35000. The corrective fall that we have been expecting is not happening. DAX can test its crucial resistance level of 15700 and then reverse lower. Nikkie can fall within its 28000-31000 range. Shanghai can test the upper end...
Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle...
The University of Michigan conducts a poll twice a month on consumer sentiment, which includes both a current sentiment and an expectations sentiment. The Preliminary numbers are released in the middle of the month and the final results are released at the end of the month. Aside from providing...
Markets had a stellar week with equity indices banging out record highs on both sides of the Atlantic. Hence the divergence in macroeconomic prospects was not reflective in their respective flagship equity indices. The S&P 500 and Nasdaq broke all-time highs with better than expected retail sales and jobless...
US stocks look to fresh all time highs amid growing optimism surrounding the economic recovery.
US futures
Dow futures +0.2% at 34100
S&P futures +0.5% at 4177
Nasdaq futures +0.85% at 14053
In Europe
FTSE +0.4% at 7023
Dax +0.18% at 15422
Euro Stoxx +0.3% at 4021
US stocks charge higher
After the...
European equities head higher
European bourses are on the rise rounding off an upbeat week. Following all-time highs on Wall Street overnight and record Chinese quarterly economic expansion, stocks across Europe appear well supported heading towards the weekend.
Signs of strong economic recoveries in the world’s two largest economies is buoying...
The S&P 500 broke the record as a result of a rally in the tech sector and positive statistics. The Nasdaq Composite Index surpassed the 14,000 level for the first time since February 16 this year. The stock market received support from a decline of the US 10-year government...
Risk appetite reliant on sustained global economic reopening.
US stock indexes still poised for more gains over coming days.
$1800 gold could re-energise bullion bulls.
Brent needs robust demand recovery to retake $70 handle.
US benchmark stock indices posted new record highs on Thursday as markets cheered signs that...
SP500 is trading nicely bullish as expected with an extensions well above 4k that is seen as an impulse because of no overlaps. We are tracking a five-wave rise away from 3852; move that can come to an end this month as we see price now trading in wave...
Markets
Risk was on fire yesterday after a batch of consensus-smashing US data; from ever-rising regional business confidence indicators in NY and Philadelphia, over the lowest jobless claims since the pandemic erupted to searing retail sales helped higher by government-sponsored paychecks. European stocks rose about half a percent, Wall Street...
China's growth more than delivered in Q1 with a rise of 18.3% YoY. Still, it was slightly below expectations but, with number as punchy as these, it will do.
Asian Indices:
Australia's ASX 200 index rose by 1.5 points (0.02%) and currently trades at 7,060.10
Japan's Nikkei 225 index has...
The Australian dollar declined slightly after the latest GDP data from China. The numbers revealed that the country’s economy rose by 0.6% in the first quarter after the Q4’s increase of 2.6%. This growth led to an annualised growth of 18.3%, slightly below the expected 19.0%. The country attributed...
The Chinese GDP grew at a record pace in the first quarter, +18.3% from 6.5% printed a quarter earlier. The Chinese growth figure could be seen as a rebound ball after the pandemic-hit economy recovers quickly toward normal activity levels. And there is nothing more promising than seeing China...
STOCKS
Dow has risen past 34000 and while this break sustains our view of seeing a corrective fall will get negated and a further rise to 35000 is possible. DAX is stuck in the narrow 15100-15300 range and looks mixed in the near-term. Nikkei and Shanghai can oscillate in the...
A wrath of Chinese economic data mostly came in below expectations and that along with heavy global bond yields was enough to drag sentiment down. China's CSI 300 index extended its slide following the mixed economic data. S&P 500 and Nasdaq futures slid slightly but are still near record...
After a strong start to earnings season yesterday, earnings continue to impress. US retail sales & jobless claims smash forecasts lifting stocks higher.
US futures
Dow futures +0.4% at 33900
S&P futures +0.5% at 4150
Nasdaq futures +0.85% at 13934
In Europe
FTSE +0.6% at 6976
Dax +0.18% at 15241
Euro...
Hong Kong and Chinese stocks fell as the liquidity operations of the Chinese central bank signaled that it is trying to constrain credit growth. US stock futures fell following the Nasdaq index. The S&P 500 lost just over 20 pips, which is a marginal decline and is showing an...
Powell reiterates that rate hikes are a long way off, pressing down on yields
Dollar skids again but upside risk from retails sales and jobless claims
Banks kick off US earnings with a bang but only Dow Jones rises
Most dovish Fed Chair ever strikes again
The US dollar slid...
The US earnings season kicked off yesterday with the largest US banks proving once again they can top analysts’ expectations by wide margins. Growth in investment banking, capital markets, and paring back loan loss reserves were major factors contributing to the bottom lines of JP Morgan, Goldman Sachs, and...
Yet more positive data from Australia saw the ASX 200 hit fresh highs, yet AUD traders look elsewhere. And yesterday’s key reversal on the Nasdaq warrants a look.
Asian Indices:
Australia's ASX 200 index rose by 44 points (0.63%) and currently trades at 7,067.10
Japan's Nikkei 225 index has risen...
Growth stocks are making a comeback as receding Treasury yields make risk assets attractive again. A bullish close above February’s high at 13908 suggests that buyers have returned.
The NASDAQ index may resume its uptrend as market sentiment improves.
After hitting the milestone at 14000 the market may take a moment...
The US100 - NASDAQ has been trading in an upper range indicating a strong uptrend. This is the case partially to Yen getting weaker.
We can spot 2 POC zones. The first zone 13495-13600 is a shallow retracement, usually seen in strong trends. 38.2 Fib is making a confluence with...
The Australian dollar rose in early trading after the strong jobs numbers. According to the statistics bureau, the country’s unemployment rate dropped from 5.8% in February to 5.6% in March. This decline was better than the median estimate of 5.7%. In the same period, the participation rate jumped from...
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