US stocks are off to good start as Bank of American and Goldman Sachs posted strong earning reports. Bank of America delivered strong results with beats on both the top and bottom line, painting a better picture on the economy than what we saw from JP Morgan and Citigroup earlier in the week. The BoA release also noted, “we see a healthy consumer and business climate driving a solid economy.” Goldman Sachs also posted similar results to BoA. Overall risk appetite is up on the strong results from banks and airlines. The high-beta currencies have recovered some of their losses against the dollar following the strong move in equities.
The upward trend in stocks appears to be back despite the longest shutdown in US history, which now enters day 26. There are no signs for talks to resume, but it will be interesting to see if the shutdown last beyond, January 29th , the day President Trump is expected to deliver his State of the Union address. No President in history has given the address during a shutdown. *if you want to trade professionally use our forex robot*
In M&A news, the board of directors of Fiserv and First Data approved a definitive merger between the two companies. The $22 billion combination shows a continuing trend in the consolidation in the payment industry. Last year, we saw Vantiv complete the acquisition of Worldpay.
Price action shows the resumption of the bullish rebound on the Dow Jones Industrial Average has price targeting the 50-day SMA, which trades at 24,352. If we see continued upside, initial resistance may come from the 24,800 level. To the downside, 23,330 remains key support.
NOTE: You can not find the right trading strategy? if you have no time to study all the tools of the trade and you have not funds for errors and losses – trade with the help of our best forex robot developed by our professionals. We offer forex robot free download. Signal2forex reviews
Written by Admin
These are the stocks posting the largest moves in midday trading. Signal2frex feedbacks ...
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, ...
The S&P 500 just had its worst first half in more than 50 years, which ‘stressed’ this classic investment strategy
Stock trader on the floor of the New York Stock Exchange.Spencer Platt | Getty Images ...