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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ The S&P 500 may be "a decent profit day" far from a "breakthrough"

The S&P 500 may be "a decent profit day" far from a "breakthrough"



The 237 point advance from the Dow industrialists can be called Johnson's triple rally – as a profit (by Johnson & Johnson

JNJ, + 1.62%

(by the way) and a Brexit (Boris) progress report amused the traders.

Peter Schultz, author of the Winning Secret newsletter, looked at market moves and said it was time to turn bullish.


It says if 3020 the level of the S&P 500

SPX, + 1.00%

is broken to the top – "a decent profit day" – the index would confirm a breakthrough (when prices pass through a resistance zone). The S&P 500 closed on Tuesday at 2,995.68.

He is in an optimistic mood due to progress in China-US. trade talks, as well as expectations of a third rate cut by the Fed at the end of the month. With earnings expectations so low, there may be some surprising surprises on the market, he adds.

The buzzing

Beijing has threatened revenge for the adoption of measures in Washington aimed at supporting protesters in Hong Kong, while Democratic MPs called for Kari Lam of Hong Kong.

The Brexit barometer seemed less optimistic as Bloomberg News cited European Union sources that the deal was "impossible" without movement from the UK. Bank of America

BAC, + 2.02%

reported third quarter earnings that were ahead of the forecast. After the close of trading, Netflix

NFLX, -0.45%

and IBM

IBM, + 0.68%

will report results.

Technical data

TECD, + 1.69%

rose when the Financial Post announced that Apollo Global Management had approached a distributor of IT equipment with a bid of nearly $ 5 billion.

Retail sales data is due, with a Fed Book beige collection of economic anecdotes coming in the afternoon.

Sen. Elizabeth Warren had a pin during the Democratic presidential debate on Tuesday. Warren's rise in polls has been a burden in several sectors, particularly health insurers.

Markets

USA. stock futures

ES00, -0.07%

YM00, -0.05%

NQ00, -0.13%

were weaker on Wednesday morning and bond yields

TMUBMUSD10Y, -1.48%

is down.

Asian stocks

ADOW, + 0.75%

closed higher while European stocks

SXXP, -0.06%

is suspended.

The Graph


If any of the 12 Democrats enter the Oval Office next year on Tuesday night, expect the carbon tax issue to return to the agenda. According to this fascinating chart by BNP Paribas, this is necessary to make the United States more productive in an environmental sense. The US not only has low carbon taxes (think super cheap gasoline compared to the rest of the world), it is among the least productive in terms of carbon, defined here as emissions per unit of GDP produced.

Random readings

A family of "waiting for the end of time" for nine years has been discovered by police.

Identical twin sisters deliver identical twin girls.

Sesame Street has apparently been mocking Donald Trump since 1988.

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