FUTURESCOIN IS GOING GLOBAL
The S&P 500 fell on Friday, wrapping up a losing week, as the outlook for additional fiscal stimulus remained uncertain.
The broader market index pulled back by 0.1% to close at 3,683.46, and the Nasdaq Composite dipped 0.2% to 12,377.87. The Dow eked out a gain of 47.11 points, or 0.2%, to 30,046.37 as shares of Disney rallied.
Friday’s moves came as negotiations over a coronavirus relief deal dragged on. Lawmakers seek to pass a bill before the end of 2020, but disagreements over state and local stimulus, unemployment assistance and stimulus checks still exist.
Democrats have also pushed back against the White House’s latest $916 billion aid offer, noting it doesn’t include any additional federal unemployment insurance money. The bill, however, was blessed by GOP congressional leaders.
Without fresh stimulus, millions of Americans could lose unemployment benefits in the new year. Meanwhile, weekly jobless claims jumped last week to 853,000, the highest total since Sept. 19, as new lockdown restrictions weighed on businesses amid rising coronavirus cases.
Plan A : Long if market doesn't retrace much and supported firm above 3656. Targets are 3672, 3688 and 3705.
Plan B : Short if market failed to support above 3656. Targets are 3632, 3604 and 3577.
U.S. stock futures moved higher in early morning trading on Monday as markets indicated a rebound from a losing week.
Investors are weighing updates on the Covid-19 vaccine rollout as well as the coronavirus stimulus stalemate in Washington.
Last week, stocks experienced their first down week in several as legislators continued a standoff surrounding a Covid-19 aid package.
The Nasdaq Composite lost nearly 0.7% for its first negative week in four.
The U.S. has begun to ship the doses from a Pfizer facility in Michigan to hundreds of distribution centers across the country. The FDA is also slated to publish their assessment on Moderna’s vaccine this week.
The Fed kicks off its two day policy meeting on Tuesday, the central bank’s final meeting of 2020. Economists have speculated that the Fed could make changes to its bond program. The Fed is currently buying at least $80 billion a month of Treasurys, and Fed officials have discussed what they could do to change that program at their last meeting.
Plan A : Long if market supported firm above 12370. Targets are 12399, 12434 and 12462.
Plan B : Short if market failed to supported firm above 12370. Targets are 12329, 12287 and 12241.
Created by Futurescoin | Jan 23, 2024
Created by Futurescoin | Jan 22, 2024
Created by Futurescoin | Jan 19, 2024
Created by Futurescoin | Jan 18, 2024
Created by Futurescoin | Jan 16, 2024