Stock Market News / Page 28

Q2 Earnings season: A crucial reality check for 2023 stock rally – Special Report

Posted on July 10, 2023 at 12:39 pm GMT

The second quarter earnings season will unofficially begin on Friday, with major US banks, as always, setting the tone. Despite stock markets’ stellar performance so far in the year, earnings are set to contract as high interest rates continue to put the brakes on the global economy. With valuations still at expensive levels and liquidity starting to evaporate, any disappointing figures could easily trigger a downside correction. Moment of truth after outstanding first half Undoubtedly, the major US indices exhibited [..]

Technical Analysis – Deutsche Bank again lower today; bleak outlook

Posted on July 6, 2023 at 10:25 am GMT

Deutsche Bank is desperately trying to find its direction after the March 2023 correction. The recently completed symmetrical triangle is still affecting the price action despite the fact that the first bearish breakout on June 16 did not meet the 10% target. Busted patterns tend to favour a move in line with the prevailing trend, which in the Deutsche Bank’s case is mildly bullish since the March 2023 episode, but the stock opened lower again today. In this environment, the momentum indicators are similarly confused. With the Average [..]

Is the stock market rally running on fumes? – Special Report

Posted on July 6, 2023 at 10:16 am GMT

It’s been a fantastic year for stock markets so far, with the S&P 500 gaining 16% and the tech-heavy Nasdaq Composite 32%. Recession fears have melted away and the hype surrounding artificial intelligence has served as jet fuel for this rally. The problem is that valuations are stretched while earnings growth is stagnant, so it is difficult to view this recovery as the beginning of a new bull market, especially with liquidity flows drying up. Behind the scenes The Nasdaq [..]

Technical Analysis – US 30 cash index might be close to a new bearish move

Posted on July 6, 2023 at 7:28 am GMT

The US 30 cash index is edging lower today, testing the support set by the December 1, 2022 downward sloping trendline. Interestingly, a bearish double-top pattern is gradually forming with the neckline standing at the June 26 low of 33,606. A move below this neckline is needed for this structure to be deemed as valid, with the primary target then set at the 32,600 area. The momentum indicators are not ready to support this developing structure. The RSI remains above [..]

Technical Analysis – Wells Fargo jumps to 4-month high after dividend hike

Posted on July 4, 2023 at 2:04 pm GMT

Wells Fargo’s stock has been in a short-term uptrend after finding its feet at the two-year low of 36.44 during the recent banking turmoil in March. In addition, the price recently jumped above its 200-day simple moving average (SMA), while posting a fresh four-month high of 43.53 in the latest daily session. The momentum indicators currently suggest that bullish forces are strengthening. Specifically, the MACD has jumped above its red signal line in the positive territory, while the RSI is at [..]

Technical Analysis – US 100 cash index prepares for a new 2023 high

Posted on July 4, 2023 at 6:58 am GMT

The US 100 index is moving sideways today, trading a tad below 15,258 that has morphed into a significant resistance level. The bulls failed to clear this level on their first attempt on June 16, 2023, and are now preparing the stage for another retest. The bears continue to exhibit an inability to record a decent pullback despite the fact that the aggressive upleg, since the March 13, 2023 low, lacks a significant correction. The momentum indicators appear mixed at this stage. The Average [..]

Technical Analysis – JP225 stock index looks overbought as it revisits 33-year high

Posted on July 3, 2023 at 2:24 pm GMT

The Japan 225 stock index (cash) is trading near the June 16 top of 34,006 – a more than three-decade high – as it extends its rebound from last week’s lows. However, the prospect of further gains and hitting fresh 33-year highs is looking a bit questionable amid not very encouraging signals from the momentum indicators. The fast stochastic has entered the overbought region above 80, suggesting that this latest upleg is running on limited juice. The MACD, meanwhile, has [..]

Chinese stocks struggle amid sluggish recovery and limited stimulus – Stock Market News

Posted on June 29, 2023 at 3:18 pm GMT

China’s stock market suffered a lot of pain in 2022, mainly due to the draconian zero-Covid policies imposed when foreign economies were up and running without any restrictions. This year started with high expectations as market participants forecasted strong recovery prospects following China’s permanent exit from Covid-19 curbs. However, as latest data suggests that the economy is losing steam, while monetary and fiscal stimulus remain below expectations, Chinese stocks seem to be under pressure. Recovery hopes get shattered In the [..]

Technical Analysis – JP225 cash index recent correction might have legs

Posted on June 29, 2023 at 1:25 pm GMT

The JP225 cash index is trading lower today as the bulls are trying to overcome the first decent correction since the current uptrend started on March 15, 2023, and are mentally preparing for another all-time high. However, the overall upward movement remains overstretched and hence corrections might take place more often and be more forceful than the bulls would prefer. The momentum indicators are probably supporting the increasing bearish pressure. The Average Directional Movement Index (ADX) is still moving lower, signaling that the [..]

Artificial Intelligence: Is the ‘baby bubble’ ready to pop? – Special Report

Posted on June 29, 2023 at 1:23 pm GMT

Wall Street has been in a rally mode this year, despite the Fed hiking rates and signaling that more hikes are looming before the end of this tightening crusade. It seems that the biggest driver behind the gains is the enthusiasm about artificial intelligence (AI). So, with the Nasdaq gaining more than 40% from its October lows, the financial community seems to be asking this question: Will the rally continue or is this ‘baby bubble’ ready to pop? Chipmakers are [..]

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