U.S. stock markets pulled back modestly from near record levels today as investors struggled to maintain the gaining mode as the USD extended the higher edge.
United States markets lost ground as traders and investors looked over a mixed bag of earnings from retailers. Health care stocks traded lower.
Shares of the retailers Gap, Abercrombie & Fitch and Williams-Sonoma dropped after the companies announced weak quarterly reports. The Dow Jones Industrial Average lost 35 points to
December Comex gold futures retreated some ground just before the cash market opening. Gold could be affected by some negative pressure in case U.S. Treasury yields are further extending the rising path.
In case the market manages to recover and closes higher today, then this will suggest in that gold traders are expecting the December Fed rate hike.
The primary trend is on a decline according to the D1 swing chart. This trend will turn up
Volkswagen AG trades today at 130.70 euros per share on XETRA in Frankfurt, Germany, representing an increase of 1.60 euros or 1.24% from the previous close of 129.10.
The stock price of the automaker was far away from the peak mark of the last six months when VOW changed hands at 141.35 euros per unit.
The German giant managed to reach a vital agreement with workers to cut as many as 23,000 jobs and save 3.7
Crude oil prices managed to slightly incline during yesterday’s session amid comments about an OPEC output cap seemed to overshadow the high inventory build up, according to the Department of Energy on Wednesday.
Support is close to the 10-day moving average at 44.76. Resistance is at the late September highs at 47.77.
Momentum has gained momentum as the MACD (moving average convergence divergence) index generated a buy signal. This takes place as the spread (the 12-day
Japan’s Nikkei finished unchanged yesterday, but it is making up for lost ground today, trading near its session high with a gain of 0.84% heading into the lunch hour.
Japanese investors are reacting to the overnight strength on Wall Street combined with a much weaker Yen versus the U.S. dollar yesterday.
The morning’s gain has seen the Nikkei retake the 18,000 level, with major Japanese export companies leading the charge higher.
The USD/JPY traded at the
U.S. markets are back on the move higher, trading near their session highs as the lunch hour begins on Wall Street.
Currently, the S&P 500 is trading higher by 0.49%, with the Dow higher by 0.11% and the Nasdaq up by 0.70%.
The financial sector is back in the lead as investors remain excited about the prospects for banks and other financial institutions as the U.S. prepares for a Donald Trump administration.
The consumer discretionary space