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
U.S. markets are mixed as they come out of the lunch hour, with the battered technology sector taking the lead today as investors take profits from other areas of the market.
Near the end of the lunch hour the S&P 500 is trading near its session low with a loss of 0.31%. The Dow is likewise trading near a session low as it has fallen 0.44%. The Nasdaq is being supported by the gains from technology
The US stock market closed Tuesday trading higher due to the strengthening of the oil and gas, telecommunications and utilities sectors.
At the close on the New York Stock Exchange, Dow Jones rose 0.29%, reaching a historic high, S&P 500 index rose 0.75%, and NASDAQ Composite Index rose 1.10%.
The leaders of growth among the Dow Jones index components were the shares of Verizon Communications Inc. (NYSE: VZ), which rose 1.19 p (2.58%), closing
European stocks and futures snapped a two-day dropping pattern as miners and banks rallied amid growing investors optimism that U.S. President-elect Donald Trump will spur growth in the world’s biggest economy.
RWE AG jumped 1.6 % after posting earnings. Novartis AG gained 1.3 % after people familiar with the matter, reported the Swiss health-care company.U.K. stocks leaped in today’s session, with financial shares among the advancers, as the pound pulled back from a rally spurred by