|Day's Range||6,347.9121 - 6,394.4341|
|52 Week Range||4,853.9302 - 6,426.0400|
With the Trump tax bill set to pass there is one common problem looming, the $1.5T that will be added to the national debt. Yahoo Finance's Seana Smith, Rick Newman, and Justine Underhill discuss a common solution that may end up hitting taxpayer's pocketbooks.
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.
The dollar is being underpinned on expectations that Congress is going to pass tax legislation sometime this year.Congressional Democratic leaders are also holding discussions with Trump and Republicans to avert a government shutdown on Saturday.
Bitcoin continues to be the darling of the markets as the prices broke through the $12000 region early in the morning and continue to rise during the course of the day. The prices have risen by more than 6% for the day so far and it appears only to be a matter of time before the $13000 region is broken and we have bet on the theory that the bitcoin prices would break the $15,000 price region by the end of the month. The stock markets continue to be under pressure over the last 24 hours as the market await further data and developments from the US.
Based on the early trade, the direction of the index is likely to be determined by trader reaction to the uptrending Gann angle at 6243.00.
With the release of its 3Q17 earnings results, Snap (SNAP) admitted that it miscalculated demand for Spectacles, its camera-equipped glasses. According to Snap, it ordered more Spectacles supplies than ...
The ADP Non-Farm Employment Change numbers will be published in the States today. Wall Street continues to exhibit nervous conditions. The Pound has lost value in early trading this morning as U.K politics remains fragile. Bitcoin rally continues.Federal Reserve Shadowing Broad Markets, Wall Street Remains Nervous
U.S investors remained cautious on Tuesday as their sentiment appears to be shifting. Traders may be looking forward to jobs numbers and the Federal Reserve. The Nikkei Index has tumbled nearly two percent this morning.
With the volatility comes pullbacks, and these pullbacks look as if they are offering value for the astute trader, and of course algorithmic black box systems.
U.S. Dollar speculators continued to buy and short-sellers continued to cover a portion of their positions over optimism surrounding the overhaul of the U.S. tax code.
The European stock markets have been weak during the course of trading today so far and in this, they have followed on from where they left off yesterday. The FTSE seems to be the only one that has bucked the trend so far and this has been brought about by a weakness in the pound. There is not much data scheduled to be released from any of the major countries and so the political drama is likely to dominate the headlines for today and tomorrow as well.
U.K politics were thrown into turmoil as Northern Ireland politicians said they will not agree to the Brexit deal unless they get concessions. Global equities have been mixed. Wall Street was able to gain early on Monday but then saw pressure develop.
The early weakness suggests the divergence between technology stocks and the Dow and the S&P 500 Index will continue this week.