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Showing posts with the label NASDAQ

Thursday - Patience with the Hangover

Like any hangover, this market needs some patience. More corrections are needed at this stage. The Fed warned more stimulus is needed to push US equities and therefore we experienced 8 weeks low; erasing earlier gains and ending an advance that began on Tuesday. Jobless claims comes more than expected. This time of the month is week and I think Fed will have to jump in again which we'll see the bullish trend. Apple Inc dropped more than 4% in the afternoon, dragging the S&P 500, Dow Jones Industrial Average, and NASDAQ Composite along with it. Tech-heavy Nasdaq is down nearly 10% for the month. Dollar is now testing resistance at its 50-day moving average as investors seek a haven from the recent volatility in risk assets. A close above the key level could point the way toward further gains, especially in the options market. Johnson & Johnson begins the biggest U.S. trial of a one-shot Covid-19 vaccine as global deaths close in on 1 million. TikTok faces a deadline this wee...