|Day's Range||6,386.2524 - 6,423.6812|
|52 Week Range||4,853.9302 - 6,426.0400|
Based on the early trade, the direction of the NASDAQ-100 Index the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at 6422.50.
Retail Sales data will come from the States and ECB President will soon begin his Press Conference after keeping the key interest rate from the European Central Bank intact.
The Federal Reserve increased their interest rate by a quarter of a point on Wednesday. The Bank of England and European Central Bank will release monetary policy statements today. The U.S Dollar has been weaker in forex. Retail Sales will come from the States and Britain today.
The U.S. Dollar tumbled against a basket of currencies on Wednesday after the U.S. Federal Reserve raised interest rates as expected, but left its rate outlook for the coming years unchanged.
The Dow Jones 30 and the NASDAQ 100 both rallied after the interest rate decision on Wednesday, showing signs that the rally is still very much intact.
Based on the early trade, the direction of the market today is likely to be determined by trader reaction to the downtrending Gann angle at 6424.50.
The Federal Reserve is expected to raise its interest rate today, but its outlook via the Monetary Policy Statement is unknown.
U.S. producer price data showed an increase in wholesale inflation, increasing hopes that price pressures may be rising from sluggish levels. According to the Labor Department, the producer price index for final demand increased 0.4 percent last month. The number met economist expectations.
Based on the early price action, the direction of the index today will be determined by trader reaction to the steep uptrending Gann angle at 6410.00.
U.S. Dollar Index posts two-sided trade with most of the major players on the sidelines awaiting Wednesday’s U.S. Federal Reserve interest rate and monetary policy decisions.
Based on the early trade, the direction of the index today is likely to be determined by trader reaction to the downtrending Gann angle at 6374.50.
While House Republicans proposed to cap the interest expense deduction at 30% of EBITDA, the Senate's version amended this provision to 30% of EBIT.
On Wednesday, the U.S. Federal Reserve is expected to raise its benchmark interest rate 0.25% to 1.50%. This has been priced into the market for at least a month. Stocks could surge if the FOMC members express concerns over the number of rate hikes in 2018.
The NFP came in stronger than expected and helped to add strength to the dollar which seems set to continue its strength through till the end of the month
The direction of the index today is likely to be determined by trader reaction to the Fibonacci level at 6371.50.
Helping to boost the U.S. Dollar Index was the rise in the Dollar/Yen. The Forex pair was supported by the return of stock market investors looking to take on risk.
US tax reform is now progressing quickly, and the technology industry (QQQ), of course, is monitoring the developments closely.
It has been a decently good day in the stock markets so far with both the European and the Asian stock markets moving higher cautiously. After the slightly bearish day yesterday, we have a slightly bullish day today and this is likely to be the price action in the markets in the short term as we head into a period of low volatility and liquidity as well.
Since Dorsey made the statement about synergies between Square and Twitter, there has been speculation that he could try to merge the companies to realize the synergies.
Global Equities have continued to trade in a cautious manner. The Nikkei Index has stabilized after yesterday’s steep losses with some slight gains today. Gross Domestic Product numbers will come from Europe. Tomorrow Average Hourly Earning data will come from the States.