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Index Update
US stocks opened higher on Wednesday, building on this week's sharp gains! The S&P 500 is up 0.6%, testing its record high from November, while the Nasdaq 100 jumped 1% and the Dow rose 170 points.
Market Movers
Earnings season is bringing the heat! Netflix surged 12% after reporting a record number of new subscribers and beating revenue and earnings expectations. Procter & Gamble added 2.5% and United Airlines gained almost 4% on strong results. And it's not just earnings! Oracle is up 11% after forming a joint venture with SoftBank and OpenAI to tap into a large-scale AI investment initiative. That's a near 20% rise for Oracle this week! But not all stocks are celebrating... Smaller caps are mostly lower as concerns over tariffs on China, freshly signaled by President Trump, outweigh expected benefits from protectionist policies.
Commodities Update
Market Update: Oil prices steady near $79 as US crude stockpiles rise for the first time since mid-November. Gold dips to $2,750/oz but remains near 3-month highs amid safe-haven demand. Silver eases below $31/oz but stays near 6-week highs on tariff concerns.
Macro Update
Breaking: China Securities Regulatory Commission (CSRC) boosts support for struggling equity markets! Insurers expected to channel CNY 100 billion into stocks by H1 2025, with state-owned and commercial insurers allocating 30% of new premiums to A-shares. Mutual funds urged to increase A-share holdings by 10% annually for 3 years.
Futures Update
US stock futures flat after Wednesday's record-breaking rally. S&P 500 hits new high, Dow & Nasdaq surge on strong earnings & optimism over Trump's policies. Netflix soars 9.7% on record subscriber growth.

Yesterday, the S&P 500 exhibited a strong bullish trend, closing above critical moving averages including the 20-day, 50-day, 100-day, and 200-day EMAs and SMAs, highlighting a solid short, medium, and long-term uptrend. The 14-day RSI is upward trending and above 60, suggesting the market might be nearing towards overbought, but it's within a range where in strong bull markets, further gains can still occur. Notably, the index found support at the 0.618 Fibonacci level and is now near its all-time high, potentially setting the stage for new record highs. However, investors should remain vigilant for possible pullbacks due to the overbought conditions, employing disciplined risk management to navigate potential volatility.






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