. Daily Index Analysis - FTSE 100, Soaring Health Stocks, Earnings Explosion, ECB Insights.

Daily Index Analysis – FTSE 100, Soaring Health Stocks, Earnings Explosion, ECB Insights.

Daily Index Analysis – FTSE 100, Soaring Health Stocks, Earnings Explosion, ECB Insights.

09 Nov 2023

Introduction:

In the global indices market, Global stock markets exhibit mixed movements amidst investor focus on interest rates and corporate earnings. Asian markets generally advance, while European shares rise on strong earnings reports. US equities close nearly flat as investors weigh Federal Reserve comments and Treasury yields.

Market In Focus for today – FTSE 100

European equity markets climbed on Wednesday, driven by advances in healthcare stocks and upbeat earnings announcements. Investors scrutinized a raft of economic data and central bank commentary to gather insights into the European Central Bank’s (ECB) monetary policy trajectory.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7402.21 | Positive Crossover | Bullish
  • MA 20: 7404.74 | Positive Crossover | Bullish
  • MA 50: 7426.26 | Negative Crossover | Bearish

Simple:

  • MA 5: 7398.94 | Positive Crossover | Bullish
  • MA 20: 7409.63| Positive Crossover | Bullish
  • MA 50: 7408.34 | Negative Crossover | Bearish

RSI (Relative Strength Index): 50.79| Buy Zone| Bullish

Stochastic Oscillator: 9.26 | Sell Zone | Negative

Resistance And Support Levels:

  • R1: 7418.0 | R2: 7553.5
  • S1: 7333.3| S2: 7244.8

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy : 7451.9 | Take Profit: 7553.5| Stop Loss: 7397.3.

Elsewhere in the Indices Market

Asian market trade higher following minor overnight gains.

The Shanghai composite is up at 0.03%. Overall, the Singapore MSCI up 0.89% to 279.98. Over in Hong Kong, the Hang Seng Index down 0.33% to 17,511.29. In Japan, the Nikkei 225 up 1.49% to 32,646.46, while the Topix index was up 1.26% to 2,335.12. South Korea’s Kospi up 0.23% to 2,427.08. Australia S&P/ASX 200 up 0.28% to, 7,014.90.

European shares rise on strong earnings.

The DAX futures contract in Germany traded 0.29 higher, CAC 40 futures in France up 0.57% to 7,073.99 and the UK 100 futures contract in the U.K. up 0.01% to 7,402.20.

Wall St ends flat as investors eye yields, Fed comments.

US equities edged higher on Wednesday, extending their recent winning streak as investors parsed through recent remarks from Federal Reserve officials for clues about the trajectory of interest rates and monitored Treasury yields.

Indexes: Dow down 0.12%, S&P 500- up 0.10%, Nasdaq up 0.08%.

Corporate News:

Amazon.com, Inc. (AMZN) down 0.44% at 142.08, Walt Disney Co (DIS) down 0.11% at 84.50, Apple Inc. (AAPL) up 0.59% at 182.89. Goldman Sachs Group Inc (GS) up 0.19% at 324.56, Morgan Stanley (MS) up 0.61% at 75.97.

Key Economic Events & Data Release Today:

(CNY) CPI (MoM) (Oct) Actual –0.1%, Forecast 0.0%, Previous 0.2% at 07:00.

(USD) Initial Jobless Claims Forecast 215K, Previous 217K at 19:00.

(CAD) BoC Senior Deputy Governor Roger Speaks at 22:15.

(USD) ECB President Lagarde Speaks at 23:00