. Daily Index Analysis - Global markets surge, Nasdaq, S&P 500 break records, FTSE 100 declines.

Daily Index Analysis – Global markets surge, Nasdaq, S&P 500 break records, FTSE 100 declines.

Daily Index Analysis – Global markets surge, Nasdaq, S&P 500 break records, FTSE 100 declines.

11 Jan 2024

Introduction:

In the broader indices market, Asian stocks surged on Thursday, with attention focused on upcoming U.S. inflation data. In Shanghai, the composite rose by 0.31%, while Hong Kong’s Hang Seng Index gained 1.27%. European stocks also experienced gains, driven by anticipation of key U.S. CPI data and Tesco’s profit guidance lift. In the U.S., equities climbed as investors awaited the inflation report, resulting in a rebound from earlier declines across the three benchmark indices.

Market In Focus for today – Nasdaq 100

As investors awaited the release of new U.S. inflation data and earnings, stocks finished higher on Wednesday. The Nasdaq Composite advanced 0.75% higher, at 14,969.65.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 16918.08 | Positive Crossover | Bullish
  • MA 20: 16646.02 | Positive Crossover | Bullish
  • MA 50: 16849.17 | Positive Crossover | Bullish

Simple:

  • MA 5: 16925.05 | Positive Crossover | Bullish
  • MA 20: 16646.06| Positive Crossover | Bullish
  • MA 50: 16849.19 | Positive Crossover | Bullish

RSI (Relative Strength Index): 65.06| Buy Zone| Bullish

Stochastic Oscillator: 100|Buy Zone | Neutral

Resistance And Support Levels:

  • R1: 37806.31 | R2: 38110.50
  • S1: 37152.99| S2: 37295.72

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion: Stop Buy: 37871.50 | Take Profit: 38100.50| Stop Loss: 37730.27.

S&P 500:

S&P 500 futures increase slightly as traders get ready for the December inflation data.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4712.88 | Positive Crossover | Bullish
  • MA 20: 4766.50 | Positive Crossover | Bullish
  • MA 50: 4791.20 | Positive Crossover | Bullish

Simple:

  • MA 5: 4810.22 | Positive Crossover | Bullish
  • MA 20: 4766.52| Positive Crossover | Bullish
  • MA 50: 4791.20| Positive Crossover | Bullish

RSI (Relative Strength Index): 64.37| Buy Zone| Bullish

Stochastic Oscillator: 99.25|Buy Zone | Positive

Resistance And Support Levels:

  • R1: 4840.77 | R2: 4890.34
  • S1: 4734.20| S2: 4662.32

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Limit Buy: 4778.81 | Take Profit: 4845.73| Stop Loss: 4736.88.

FTSE 100:

Ahead of the US CPI data on Thursday and the UK GDP data on Friday, the FTSE 100 has started to decline again as investors continue to be cautious.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 7678.88 | Negative Crossover | Bearish
  • MA 20: 7695.95 | Negative Crossover | Bearish
  • MA 50: 7696.55 | Negative Crossover | Bearish

Simple:

  • MA 5: 7678.36 | Negative Crossover | Bearish
  • MA 20: 7695.95| Negative Crossover | Bearish
  • MA 50: 7696.32| Negative Crossover | Bearish

RSI (Relative Strength Index): 42.09| Neutral Zone| Neutral

Stochastic Oscillator: 13.72|Sell Zone | Negative

Resistance And Support Levels:

  • R1: 7739.5 | R2: 7791.8
  • S1: 7661.2| S2: 7552.7

Overall Sentiment: Bearish | Market Direction: Sell

Trade Suggestion:  Stop Sell: 7635.0 | Take Profit: 7552.7| Stop Loss: 7695.3.

Euro Stoxx 50:

Thursday saw a rise in European stock markets as investors awaited the release of important U.S. inflation data, spurred by overnight advances on Wall Street.

TECHNICAL OVERVIEW:

Moving Averages:

Exponential:

  • MA 5: 4504.69 | Positive Crossover | Bullish
  • MA 20: 4489.04 | Positive Crossover | Bullish
  • MA 50: 4532.14 | Negative Crossover | Bearish

Simple:

  • MA 5: 4500.04 | Positive Crossover | Bullish
  • MA 20: 4489.45| Positive Crossover | Bullish
  • MA 50: 4532.16| Negative Crossover | Bearish

RSI (Relative Strength Index): 50.56| Buy Zone| Bullish

Stochastic Oscillator: 84.26|Buy Zone | Positive

Resistance And Support Levels:

  • R1: 4526 | R2: 4622
  • S1: 4463| S2: 4391

Overall Sentiment: Bullish | Market Direction: Buy

Trade Suggestion:  Stop Buy: 4539 | Take Profit: 4622| Stop Loss: 4489.

Elsewhere in the Indices Market:

Asian stocks saw gains on Thursday. The primary focus is on upcoming U.S. inflation data.

The Shanghai composite is up at 0.31%. Overall, the Singapore MSCI is up 0.77% to 281.60. Over in Hong Kong, the Hang Seng Index up 1.27% to 16,302.04. In Japan, the Nikkei 225 was up 1.77% to 35,049.86, while the Topix index was up 1.57% to 2,482.87. South Korea’s Kospi down 0.7% to 2,540.27. Australia S&P/ASX 200 up 0.50% to, 7,506.00.

European stocks climb ahead of key US CPI; Tesco lifts profit guidance.

The DAX futures contract in Germany traded 0.01 lower, CAC 40 futures in France down 0.04% to 7,423.64, and the UK 100 futures contract in the U.K. down 0.32% to 7,659.35.

US equities climb as investors await new inflation data.

As investors awaited the release of inflation report, US markets increased on Wednesday. The three benchmark indices all rose, correcting earlier in the day’s falls.

Indexes: Dow up 0.45%, S&P 500- up 0.57%, Nasdaq up 0.75%.

Corporate News:

Netflix, Inc. (NFLX) is down 0.78% at 478.33, Tesla, Inc. (TSLA) is down 0.43% at 233.94, and Apple Inc. (AAPL) is up 0.57% at 186.19. Goldman Sachs Group Inc (GS) is down 0.46% at 381.96, and Morgan Stanley (MS) is down 0.63% at 91.48.

Key Economic Events & Data Release Today:

(USD) Initial Jobless Claims Forecast 210K, Previous 202K at 19:00.

(USD) CPI (MoM) (Dec) Forecast 0.2%, Previous 0.1% at 19:00.

(USD) CPI (MoM) (Dec) Forecast 0.2%, Previous 0.1% at 19:00.