China Economy Worries

TAGS: Software for stock market analysis

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News in Brief

Bloomberg:

Global Money is fast chasing alternatives in Asian equities as China anxiety grows.
Stocks fall on China economy worries.
Everywhere you look in China are signs of more market misery.
Cathie Wood says software stocks are next AI bet after Nvidia.

MarketWatch:

House passes debt-ceiling bill in 314-117 vote, sending it over to Senate.
Salesforce predicts record earnings, but stock is still falling.
Opinion: America and China are fighting to keep the other down. Both could get hurt.
Global tech layoffs have surpassed 200,000 since the start of 2023.

yahoo! finance:

Job openings show surprise increase in April.
Stocks slide with all eyes on debt-ceiling vote.

China economy worries together with debt-ceiling vote are making stocks slide.

Global Indexes

S&P 500

The S&P 500 only managed to close 2 days above its 4200 level and corrected back below it. Its EMA8 line (orange) is however starting to trend upwards.

DAX

The DAX made a much stronger correction to close on strong support. We will have to see today if we get a bounce on this support?

HANG SENG

Although slightly positive today, the trend is still negative for the HANG SENG.

NYSE & NASDAQ Stocks

Salesforce.com Inc

We do not know why the news says salesforce.com is still falling? In our book the trend, long and short term, are all positive.

Philip Morris International Inc

Philip Morris made a large abc correction and is showing the first signs of turning again with a hammer and doji candles next to each other in oversold territory. We also have divergence in place. Keep an eye on a trend break.

JSE Stocks

JSE All Shares

The negative trend remains in play for the JSE All Shares. The only good news is that unconfirmed divergence is in place. Frontrunner predicted a further low, but now has divergence in place for a turn.