[ad_1]
The article was translated from English on 12/28/2020
-
US stocks and futures rise after Trump signs stimulus package
-
Alibaba shares decline after Chinese government measures to tighten restrictions
Highlights of Global Market Events
All futures: S&P 500, Nasdaq and Dow Jones are higher today, after US President Donald Trump signed the stimulus package on Sunday night. Finally, the $ 2.3 trillion package became law (between $ 900 billion and $ 1.4 trillion in public funds). The market’s risk appetite increased, especially after the Brexit deal was signed, before the start of the Christmas holidays.
The dollar fell, rose slightly, then fell again, and oil rose.
Global Economy Affairs
Trump created a crisis around the long-awaited stimulus package, calling it a “scandal” because only $ 600 was distributed to individuals. But he finally backed down on Sunday night and signed a law. By law, disbursements of unemployment claims will be reinstated and government closings will be avoided.
With the rise of all futures, however, the Russell 2000, a small stock index, doubled in value, extending cyclical turnover.
Energy stocks and the electric car industry were under pressure from the coronavirus shutdowns, but today they have risen to raise the European STOXX 600 index, as well as the small US stock index. This signals the launch of stocks sensitive to the degree of economic recovery.
Asian stocks all rose, led by the Japanese, to nearly 30 years with low volumes due to the holidays. However, revenue was unclear in Japan, with stocks of technology, healthcare, services and industrial devices steadily increasing.
And that was the only drop in the Asian market, with the liquidation continuing due to mounting pressure on Amazon (NASDAQ 🙂 China, Alibaba, Chinese official authorities reviewing the monopoly practices of Jack Ma’s companies, and the People’s Bank. of China orders Ant Group, the world’s largest, to adjust lending activity. , And others.
Alibaba shares fell for the second day in a row, losing 8% and massive trading volume, despite the company posting a share buyback program, bringing the value to $ 10 billion . Today, the movement extended an upper head and shoulder pause, indicating weakness, with insufficient demand for a right shoulder lift.
US stocks rose on Thursday, ahead of the holidays, but stocks closed lower, amid uncertainty surrounding the stimulus package.
The 10-year yield rose, with a drop at the bottom of the session.
Dollar index chart
The dollar has ended the second consecutive downtrend, and the reason is the new stimulus package that will flood the markets with so-called cheap money.
Gold rose as the US dollar weakened.
Gold ended a bullish flag pattern, but found resistance at the top of the channel, and today’s weakness is attributed to the strong appetite for risk, which attracts capital to stocks, and the motto relentlessly. The flag also follows a head-and-shoulders pattern at the bottom, and both threaten the downward channel.
Bitcoin continues its strong rally, after dropping yesterday for the first time in 4 days.
Bitcoin Chart
Digital currency set a new record at $ 28,000. The upper shadow of the shooting star pattern formed yesterday indicates a decline, confirmed by negative volume deviations, indicators of momentum.
As for oil, it is rising
The RSI gives a negative bias. The momentum indicator could peak suggesting a drop in price.
[ad_2]
Source link
