European Stocks Advance Amid Strong Earnings And Not As Bad As Feared EZ GDP
After a strong hand over from Wall Street, European stocks are pushing higher on Friday. Bourses are extending gains boosted by broadly upbeat corporate earnings and better-than-expected Eurozone GDP data.
The Eurozone economy contracted again in Q1 due to extended lockdown restrictions, which pushed the bloc into a second technical...
Dollar Set For Big Monthly Losses, Stocks Struggle For Direction Again
Dollar steadier but month-long rout probably not over yet, yen firmer too
S&P 500 closes at another record high but stocks slip today amid some jitters
Copper soars past $10,000 a tonne, oil moderates after boost from upbeat US GDP
Don’t fight the dovish Fed
The US dollar is on...
Considering The Background Of Positive U.S. Macroeconomic Statistics The Stock Market Remains Optimistic
On Thursday, stock markets opened with a sharp decline, but by the end of the session the main indices recovered their positions. The U.S. GDP data showed a 6.4% growth and the number of jobless claims fell to 553,000 last week, which is the lowest number since the beginning...
European Open: European Shares Wobble At Month-End
Profit taking and month-end flows may be the cause behind yesterday’s sell-off. Either that, or its good old profit taking ahead of the annual time to “sell in May and go away”.
Asian Indices:
Australia's ASX 200 index fell by -55 points (-0.78%) and currently trades at 7,027.30
Japan's Nikkei...
NAS 100 Meets Tough Resistance
Stronger-than-expected quarterly results lift market optimism as the earnings season is in full swing.
The index has been struggling to keep its head above 14070 after it resumed the uptrend above February’s high at 13900. The RSI’s repeated incursions in the overbought area are a sign of exhaustion in the...
Market Morning Briefing: Pound Has Been Rising Slowly
STOCKS
Dow continues to remain mixed and continues to oscillate around 34000. It has to get a strong follow-through rise from here to avoid a fall below 33500. DAX has dipped below 15200 and can come under pressure if it falls below 15000. Nikkei has dipped below 29000 and can...
US Open: Tech Futures Surge, GDP Beats, Jobless Claims at New Low
US stocks are heading for a stronger start on Thursday with the tech heavy Nasdaq set to outperform following stellar earning from Apple & Facebook, after a dovish and impressive macros data. What more could the bulls want?
US futures
Dow futures +0.4% at 33970
S&P futures +0.67% at 4213
...
USD Weakens As Fed Remains Dovish
The USD weakened against a number of its counterparts yesterday, as the Dollar index reached its lowest point since the 26th of February. As was widely expected the Fed remained on hold and tended to recognize the improvement made regarding the US economic recovery, yet at the same time...
Powell Sinks Dollar But Can’t Keep Yields Down For Long
US dollar and yields tumble after Powell says not the time to talk about taper
But yields bounce back ahead of expected surge in Q1 GDP data, weigh on equities
Blowout tech earnings finally inject some life into Wall Street, futures up
Powell as dovish as ever
The Federal Reserve...
The Fed Left The Interest Rate In The 0-0.25% Range, And This Number Is Likely To Remain Unchanged Until The End Of The Year
American tech giant Apple Inc. has more than doubled its net profit by the new report. In the previous days, Alphabet and Facebook also reported positive results. These companies are the leaders of the main U.S. indices, so on the background of the projected GDP growth and new stimulus...
Dovish Fed And Big Earnings Surprises Send US Stocks To New Records
Whoever thought the robust economic figures produced by the US economy over the past few weeks would alter the Fed’s thinking, even slightly, was totally mistaken. The economy is firing on all cylinders with employment, consumer spending, manufacturing, services and the housing sector all exhibiting solid gains. Still, the...
Strong US Data Will Continuously Build Market Pressure
Markets
The Fed turned a bit more upbeat on the economy. Its statement recognizes the strengthening of economic activity, even in the hardest-hit sectors, and employment, supported by progress on vaccinations and both monetary and fiscal policy. The Fed also took note of rising inflation but says it largely reflects...
Asian Equities Edge Higher
Asia in cautious mood, eyes US GDP
Asian equities continued to trade with a cautiously bullish bias, with one eye on US GDP this evening, after the FOMC stayed on message but was ever so slightly less dovish. Notably, US index futures are rallying powerfully in Asian trading after blow-out...
European Open: Biden Addresses Congress, S&P Futures Hit New Highs
US futures rose overnight, following Joe Biden's first formal address to congress where he pitched his $1.8 trillion stimulus package.
Asian Indices:
Australia's ASX 200 index rose by 25.8 points (0.37%) and currently trades at 7,090.50
Japan's Nikkei 225 index has risen by 62.08 points (0.21%) and currently trades at...
Market Morning Briefing: Euro Rose Sharply Above 1.21 As The Dollar Weakened After The FED Policy Statement
STOCKS
Equities continue to trade mixed. Dow seems to be turning around gradually. The level of 33500 is very crucial to watch if it fails to rise past 34000 from here. DAX remains stable and mixed above 15200. The chances of seeing 15500-15700 on the upside is still alive before...
Beware A Strong Fed Consensus
Expectations for Wednesday's Fed statement are low but be careful not to be complacent because recent history argues for caution. GBP was the top performer while the yen lagged. CAD is the strongest currency after blowout retail sales figures. The chart below highlights the EURUSD's reaction to each of...
Markets Are Paralzed Ahead Of A Two-Day Meeting Of The Federal Open Market Committee (FOMC)
Strong reports from major U.S. companies are pushing indices higher. But the market is showing low volatility as investors took a temporary pause after a proposal from Joe Biden to raise taxes on corporations and individuals last week.
The ECB released macroeconomic statistics on the change in assets on its...
FOMC and Earnings Dominate Agenda
Will FOMC signal QE taper? We doubt it even as economy in better shape and inflationary pressures on the rise
Fed might have to tighten its belt faster eventually
Growth stocks may struggle going forward and dollar set for comeback vs. JPY and CHF
Facebook and Apple earnings...
US30 Chart Expecting ABC Pattern To 33k-33.5k Support Fibs
Dow Jones Index (DJI or US30) uptrend remains strong with a perfect trend alignment. This means that price is above the 21 emas, which is above the 144 ema.
The US30 daily chart has 7 daily candles that we're unable to break for a higher high. This certainly...
Asian Equities Off To A Slow Start
Markets exercising caution ahead of FOMC
Wall Street had a sedate day as it moved into wait-and-see mode ahead of the FOMC. Earnings weighed slightly on the Nasdaq, which finished 0.34% lower, but the S&P 500 and Dow Jones finished the day unchanged. Alphabet’s aftermarket rally appears to have shifted...
Wild, Wobbly Or Whimpering Wednesday?
Market sentiment remains tentative ahead of key events.
Powell set to reiterate dovish message.
Stocks to climb further as long as Fed stays accommodative.
Investors wary of Biden's proposed tax hikes.
Oil remains focused on demand-side risks.
Asian stocks and US equity futures are mixed as investors brace for...
US 500 Index Edges Sideways, Uptrend Still Intact
The US 500 stock index (Cash) is consolidating just beneath its fresh all-time high of 4,198 by sustaining some footing off the mid-Bollinger band around 4,173. Positive momentum is present after sellers failed on two occasions to overturn the bullish bias by steering beneath the 50-period simple moving average (SMA)....
GER 30 Consolidates Near A Record High
The German index stagnates as the earnings season kicks off in Europe. Last week's sell-off below 15180 was a sign that buyers took profit after the index made a series of record new highs.
On the daily chart, the uptrend is so far intact as the price action hovers above...
AUD/USD Forms Double-Top After Weak Australia Data
US stocks wavered as investors reacted to the latest corporate earnings by top companies like Alphabet and Microsoft. Alphabet, the owner of Google and YouTube, announced a 34% revenue jump to a record $55.3 billion, which was higher than the expected $51.6 billion. Its net profit surged by 162%...
European Open: Australian Inflation Hits A Record Low
Surprisingly weak inflation weighed on the Australian dollar today, as traders pushed back already low expectations of a hawkish RBA materialising.
Asian Indices:
Australia's ASX 200 index rose by 32.4 points (0.46%) and currently trades at 7,066.20
Japan's Nikkei 225 index has risen by 102.27 points (0.01%) and currently trades...
Market Morning Briefing: Euro Has Dipped Below 1.21 And Trades Lower
STOCKS
Equities continue to trade mixed and are struggling to find a direction. Dow is stuck around 34000 and DAX hovers above 15200. Nikkei is stable within its 28000-31000 range. Shanghai can fall within its 3350-3500 range. Sensex and Nifty have come up towards the upper end of their 47000-49000...
US Open: Stocks Steady as Earnings Ramp Up, FOMC Eyed
US stocks hold steady near record highs ahead of a deluge of earnings including Microsoft and Apple. Caution ahead of tomorrow's FOMC is keeping investors on the sidelines.
US futures
Dow futures -0.5% at 33097
S&P futures +0.07% at 4192
Nasdaq futures +0.16% at 14049
In Europe
FTSE -0.2% at 6950
...
Europe Sees A Muted Start With Earnings In Focus
Despite a record close on the S&P500 overnight, European bourses are trading in a lacklustre fashion on Tuesday. Today’s open has been unremarkable at best, even though big names were reporting.
Despite impressive earnings from some heavyweights on the FTSE, the UK index is still struggling to push back towards...
USD Stabilises By Edging Higher
The greenback gained a bit against a number of counterparts yesterday, yet commodity currencies such as the Loonie and the Aussie tended to outperform the USD, with the latter gaining also from high copper and iron ore prices. USD’s gains though seemed to remain capped as stocks started the...
FTSE Up Amid Growing Recovery Hopes, Positive Earnings
The FTSE edged higher in early European trade, after another record close on Wall Street last night. Sentiment remains positive towards global stocks as investors continue to expect a strong stimulus-fuelled and US-led economic recovery. Concerns over policy tightening has eased with major central banks insisting price rises will...