The Dow Jones Industrial Average was up 0.4%, over 100 points, on Thursday, while the S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite gained 0.5%. Stocks jumped after a bigger-than-expected increase in jobs last month: The Labor Department reported that 4.8 million jobs were added in June—more than the 2.9 million expected. The unemployment rate fell to 11.1%, down from 13.3% in May. The jobs data for June was collected ...
All five major equity averages are above what’s called a “golden cross,” which occurred when the 50-day simple moving average crossed above its 200-day simple moving average, indicating that higher prices lie ahead. Traders buy weakness to a value level that is below the current market price. Traders reduce holdings on strength to a risky level that is above the market price. A pivot is a “magnet,” which was once a value level or a risky ...
In the U.S., market participants focus the majority of their attention on three indices – S&P 500, Dow Jones Industrial Average, and Nasdaq 100. These indices are of course highly correlated to one another as they track companies impacted by the same business cycle and other important macroeconomic factors. Additionally, there is some cross-over in the stocks that are included in the ‘big three’. For example, the technology giant Apple Inc. (AAPL) is a constituent included in all ...
US Dollar Forecast: US Dollar Rally Poised to Continue as Market Sentiment Sours The US Dollar may continue to push higher as haven demand amid deteriorating market sentiment takes over from Fed policy bets as the catalyst du jour. British Pound Forecast: Oversold or Still in a Downtrend? There is an argument to be made that Sterling has suffered enough and that most, if not all, of the bad economic backdrop has been priced ...
Heading into a new week, bulls remain confident, buoyed by technical indications and market internals. A rate hike is likely and the commentary surrounding it could spoil the party. The technical picture remains encouraging for bulls, as the major indices seem to be on track to leave behind the 3-month long correction. The Dow, the S&P 500 and the Nasdaq are all above their 50- and 200-day moving averages, and thanks to the recent rally, ...
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