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STOCK INDEXES & MARKETS
The September NASDAQ 100 was higher overnight as it extended the short covering rally off Wednesday's low. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. Closes above the 20-day moving
average crossing at 2592.56 would temper the near-term bearish outlook. Multiple closes below the June-July uptrend line crossing near 2555.97 are needed to confirm that the rally off June's low has ended while opening the door for additional weakness near-term. First resistance is the 20-day moving average crossing at 2592.56. Second resistance is last Thursday's high crossing at 2658.00. First support is the reaction low crossing at 2516.50. Second support is the reaction low crossing at 2503.50. Continue reading "Key Market Commentary for Friday"
(RTTNews) - After moving sharply higher in the previous session, stocks could see some further upside in early trading on Friday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 31 points.
The markets may benefit from the release of a report from the Commerce Department showing that the U.S. economy grew by more than anticipated during the second quarter. Continue reading "Will stocks extend yesterday's rally?"
(AP:NEW YORK) It was the buy signal that markets were waiting for.
When European Central Bank president Mario Draghi vowed to "do whatever it takes" to keep the continent's monetary union intact, stocks were off to races in the U.S. and Europe.
The Dow Jones industrial average on Thursday jumped 212 points, or 1.7 percent, to 12,888 following big gains in European markets. Benchmark stock indexes in Spain and Italy surged 6 percent and 4 percent in France. Continue reading "Dow jumps 212 Points on ECB Vow"
(RTTNews) - The dollar has pulled back against its major European competitors on Thursday, following comments made by Mario Draghi in defense of the Euro. The comments also sparked a rally in European stock markets and the Spanish 10-year yield dropped more than 30 points to around 6.82 percent, after climbing to a record 7.60 percent earlier in the week.
The European Central Bank President Mario Draghi on Thursday said the bank is prepared to take whatever measures needed to preserve the euro. "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro," he told an investment conference in London. "And believe me, it will be enough." Continue reading "Dollar Losing Ground Vs. Euro After Draghi's Comments"
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