. Daily Index Analysis - FTSE 100's Friday, Bond Dance and Weekly Gains.

Daily Index Analysis – FTSE 100’s Friday, Bond Dance and Weekly Gains.

Daily Index Analysis – FTSE 100’s Friday, Bond Dance and Weekly Gains.

24 Nov 2023

Introduction:

In the global indices market update, Asian markets exhibit varied movements as investors analyze key economic data from Japan. European shares are poised for weekly gains, especially in the media and retail sectors. Meanwhile, U.S. futures declined in a shortened Thanksgiving trading session, despite Wall Street’s optimism that U.S. interest rates have peaked.

Market In Focus for today – FTSE 100

On Friday, Europe’s primary stock index showed little change, maintaining a flat trajectory despite higher Eurozone bond yields. However, the index was set for weekly gains as investors scrutinized German data for insights into the country’s economic outlook.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7471.56 | Negative Crossover | Bearish
  • MA 20: 7468.56 | Positive Crossover | Bullish
  • MA 50: 7453.81 | Positive Crossover | Bullish

Simple:

  • MA 5: 7472.38 | Negative Crossover | Bearish
  • MA 20: 7473.73| Negative Crossover | Bearish
  • MA 50: 7443.49 | Positive Crossover | Bullish

RSI (Relative Strength Index): 51.2| Buy Zone| Bullish

Stochastic Oscillator: 21.59 | Sell Zone | Neutral

Resistance And Support Levels:

  • R1: 7482.0 | R2: 7593.1
  • S1: 7406.1| S2: 7320.1

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 7502.7 | Take Profit: 7593.1| Stop Loss: 7453.8.

Elsewhere in the Indices Market

Asian markets show a mix of movements as investors assess key Japanese economic data.

The Shanghai composite is down at 0.68%. Overall, the Singapore MSCI is down 0.71% to 271.30. Over in Hong Kong, the Hang Seng Index down 1.96% to 17,559.42. In Japan, the Nikkei 225 was up 0.52% to 33,625.53, while the Topix index was up 0.54% to 2,390.94. South Korea’s Kospi down 0.73% to 2,496.63. Australia S&P/ASX 200 is down 0.17% to, 7,040.80.

European shares set for weekly increases on media, retail boost.

The DAX futures contract in Germany traded 0.13 higher, CAC 40 futures in France up 0.18% to 7,291.14, and the UK 100 futures contract in the U.K. down 0.22% to 7,467.44.

US Futures declined in the shortened trading session.

U.S. stock index futures remained relatively subdued on Friday during a shortened Thanksgiving trading session. Nonetheless, there was optimism on Wall Street about extending the weekly winning streak, driven by the belief that U.S. interest rates have reached their peak.

Indexes: Dow up 0.23%, S&P 500- up 0.11%, Nasdaq down 0.01%.

Corporate News:

Netflix, Inc. (NFLX) is up 0.64% at 478.00, Tesla, Inc (TSLA) is down 2.90% at 234.21, and Apple Inc. (AAPL) up 0.35% at 191.31. Goldman Sachs Group Inc (GS) is up 1.10% at 338.64, and Morgan Stanley (MS) is up 0.03% at 78.49.

Key Economic Events & Data Release Today:

(EUR) German GDP (QoQ) (Q3) Actual –0.1%, Forecast –0.1%, Previous 0.0% at 02:00.

(EUR) ECB President Lagarde Speaks at 05:00.

(CAD) Core Retail Sales (MoM) (Sep) Forecast –0.2%, Previous 0.1% at 08:30.

(CAD) Retail Sales (MoM) (Sep) Forecast 0.0%, Previous –0.1% at 08:30.