TAGS: Technical analysis software
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News in Brief
Bloomberg:
- Chinese stocks fall in Hong Kong after economic data disappoint.
- Chinese stocks at risk of more losses as economic gloom worsens.
- Stock rotation is back on bets Fed will ‘Go Big’.
- Stocks up as this week’s rally tops $1.3 trillion.
- China stock selloff pushes benchmark to lowest since early 2019.
MarketWatch:
- ‘Rather poor’ communication by the Fed blamed for leaving markets puzzling over rate-cut path.
- Gold’s an ‘all-weather hedge against whatever happens next’ as Fed decision nears.
- S&P 500, Nasdaq book biggest weekly jump of 2024 ahead of Fed meeting.
- Defensive stocks are Wall Street’s hottest trade as Fed readies rate cuts.
- Boeing’s credit rating risks being cut to junk after Moody’s frets about strike.
yahoo! finance:
- Record $1.2 trillion in interest payments are blowing up US budget.
- McDonald’s stock gets a boost from extension of $5 meal deal.
- Adobe is ‘much further along’ in AI race than others: Analyst.
- Alcoa to get $1.1 billion for stakes in Saudi aluminum plants.
The Fed will have the last say this week as the Fed’s rate decision looms.
Global Indexes
S&P 500
The S&P 500 is nearing top resistance again with the Fed decision pending.
DAX
The DAX is also nearing its top resistance with the current rally.
HANG SENG
The HANG SENG made an attempt to break its 50 DMA on Friday but closed below it. Poor economic data made it open below its EMA8 line this morning.
NYSE & NASDAQ Stocks
Adobe Systems Incorporated
Although ADOBE‘s sales and profits exceeded analysts’ expectations, the market did not like the forecast announced and that caused a drop of 8.5%.
Solaredge Technologies Inc
After a very long negative trend SEDG is lifting its head with a Poer P2 signal in oversold territory. Average price target is $49 by analysts.
JSE Stocks
JSE All Shares
The JSE All Shares followed global markets higher.
Impala Platinum Holdings Ltd
IMP opened with a breakaway gap and closed on two resistances for the day.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
