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We are expanding to global markets
WTI Crude, Gold, HSI, Dow, S&P 500 & Nasdaq
We are expanding to global markets
WTI Crude, Gold, HSI, Dow, S&P 500 & Nasdaq
We are expanding to global markets
MERRY X'MAS
The S&P 500 erased most of its gains and closed little changed on Wednesday amid year-end profit-taking, while policy uncertainty weighed on sentiment as President Donald Trump picked fights with Congress.
The broad equity benchmark rose less than 0.1%, or just 2.75 points, to 3,690.01 after climbing as much as 0.7% earlier in the day.
Cyclical sectors — pockets of the market most sensitive to an economic recovery — provided the market with some support. Energy and financials were the two best-performing groups, rising 2.2% and 1.6%, respectively.
The S&P 500 was coming off its third straight day of losses after its recent rally to record highs. Some investors started taking profits after an unexpected year of solid gains. The broad equity benchmark is up more than 14% with only five trading days left in 2020.
On the data front, U.S. jobless claims totaled 803,000 during the week ending Dec. 19, better than an estimate of 888,000 according to economists polled by Dow Jones. However, core durable goods and personal income both fell short of expectations in November.
Plan A : Long if market doesn't retrace much and supported firm above 3664. Targets are 3679, 3695 and 3712.
Plan B : Short if market failed to support above 3664. Targets are 3638, 3613 and 3585.
U.S. stock index futures were higher in overnight trading on Wednesday, ahead of the final trading day of the holiday-shortened week.
The Nasdaq Composite fell 0.3%, or 36.80 points, to 12,771.11 as tech heavyweights Amazon, Apple and Microsoft all dipped. The Nasdaq Composite hit a record high, before erasing those gains.
The late-day slide came as investors took profits into the end of the year, and as President Donald Trump vetoed a sweeping defense bill. The move came after he called Congress’ $900 billion Covid relief package — months long in the making — an unsuitable "disgrace". The president took particular issue with the direct payments, which he said should be lifted from $600 to $2,000.
With just 4.5 trading days left in the year, the Nasdaq is on pace to be the clear winner, currently up around 42%.
The market will close early at 1 p.m. ET on Thursday, and will be closed on Friday in observance of Christmas.
Plan A : Short if market failed to support above 12581. Targets are 12540, 12504 and 12457.
Plan B : Long if market doesn't retrace much and supported firm above 12581. Targets are 12612, 12645 and 12675.
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...