Jump to content

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force


Recommended Posts

STOCK MARKETS – PRICES AND CHARTS:

  • Asia knocked lower, Nikkei down 1.6%.
  • A strong open in Europe but will sentiment hold?

 

U.S. stocks close higher in Nasdaq-led rally, but still see losses for the  week - MarketWatch

A positive start to the week after Friday’s heavy sell-off, but doubts remain if this is the start of a fresh move higher or if it is a short-term relief rebound. The main market driver, the new Covid-19 variant Omicron, remains and with every hour there are news flashes of cases being discovered around the globe. This will remain the case for days and weeks to come and will cap equity indices in the short- to medium-term.

The Nikkei fell 1.63% overnight, following last Friday’s 2.5% sell-off, pushed lower by news that Japan will close its borders to all foreign visitors from Tuesday, in an attempt to control the spread of the new Covid-19 variant.

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force

The economic calendar is packed full of central bank speakers today and it will be interesting to see the views from members of the ECB and the Fed on the new Covid-19 variant, and if it will change their interest-rate hike projections. Treasury Secretary Janet Yellen Speaks at 15:00 GMT, ECB president Christine Lagarde speaks at 17:15 GMT, Fed chair Jerome Powell is speaking at 20:05 GMT while RBA Deputy governor Guy Debelle rounds off the day at 22:05 GMT.

For all market moving events, releases and speeches, see the DailyFX Calendar.

The charts below show today’s pull-back but the depth of Friday’s sell-off has scarred a range of markets. As noted before, this rebound may prove fleeting in the face of the new variant until news about symptoms and the spread is fully known, how effective current vaccines are , and how long it will take to produce a new, targeted vaccine. While all these questions remain, further upside is likely to be difficult.

DOW JONES DAILY PRICE CHART – NOVEMBER 29, 2021

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force

NASDAQ DAILY PRICE CHART NOVEMBER 29, 2021

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force

FTSE 100 DAILY PRICE CHART NOVEMBER 29, 2021

Dow, Nasdaq 100 and FTSE Open Higher, Covid Variant Fears Remain the Dominant Market Force

How to Short Sell a Stock When Trading Falling Markets

What is your view on Equities – bullish or bearish?

 

By Nick Cawley, Strategist, 29th November 2021. DailyFX

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,157
    • Total Posts
      90,663
    • Total Members
      41,266
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    BMadoff
    Joined 26/01/23 23:07
  • Posts

    • Content: US Bond Yields, Dollar DXY, US Gold, Silver, Copper, Lithium, Uranium, Nickel, Crude Oil, Natural Gas Commodities Market Summary: Bond yields and US DXY lower, commodities higher Trading Strategies: Hold Long Lithium, Uranium, Gold, Nickel. Video Chapters 00:00  US Gov Bonds 10 Yr Yields 01:22 US Dollar Index DXY  03:48 US Spot Gold GDX ABX NCM 17:02 US Spot Silver 18:20 US Copper / Lithium / Uranium / Nickel (China, Emerging Markets, stocks) 37:48 Crude Oil, Sector XLE / XOM   44:52 Natural Gas 54:07 TRIAL Buy 1 Month Get 3 Months Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com      
    • Tesla reported earnings of $1.19 per share after the US market close yesterday - four cents higher than analyst expectations. While revenue was at a record high it came in just short of the bullish expectations at $24.32 billion.  Jeremy Naylor | Writer, London | Publication date: Thursday 26 January 2023 Tesla shares up on earnings Tesla shares rose 8% yesterday in extended trade on the IG platform, up a further notch higher by a margin of 5% on from what we saw during full trading yesterday. And this is as a result of earnings out late last night. Let's take a look at the figures. The electric carmaker reported earnings of $1.19 per share after the US markets closed. That's $0.04 higher than analysts expected. Revenue was just short of expectations at $24.32 billion. These are record numbers, according to the company. In a call to investors, CEO Elon Musk said he expected a pretty difficult recession this year for the US economy. But demand for Tesla vehicles, he says, will be good, despite a probable contraction in the automotive market as a whole, adding that absent external disruptions, 2023 deliveries could hit two million vehicles. Share price chart Overall, let's take a look at the share price chart. This stock is now up 51% from the lows that we had back in January and I'm talking January this year. So it's just shy of three weeks. That is a whopping increase. But you've got to bear in mind, the stock has fallen substantially from the record highs we saw back on the 4th of November 2021. We've lost 75.6% of overall value in Tesla. So this uptick here when you're looking at this sort of improvement from those lows, it is an incredible move in terms of percentages, but it's risen from $103 up to $152. So that's what we're opening this morning at 9:00 UK time, extended trade after that big gain yesterday on those numbers coming through from Tesla.
×
×
  • Create New...